What variable that affects a product's perceived value has to do with how the functions of a product or service are implemented, such as a fitness tracking watch that gives you updates on your health over time?
The variable that affects a product's perceived value in terms of how the functions are implemented is the "Usability" or "User Interface/User Experience (UI/UX)." In the case of a fitness tracking watch that provides health updates over time, the effectiveness and ease of use play a crucial role in determining its perceived value.
Usability refers to how easily and intuitively users can interact with the product or service. It includes elements like the design, layout, navigation, responsiveness, and overall user experience. A well-implemented user interface that presents health updates in a clear and intuitive manner, with easy-to-understand graphs, charts, and notifications, can significantly enhance the perceived value of the fitness tracking watch.
If the functions are implemented poorly, making the data confusing or difficult to interpret, or if the user interface is cluttered or counterintuitive, it may negatively impact the perceived value. Users value products that are user-friendly, provide useful and understandable information, and offer a seamless and enjoyable experience. Consequently, the usability of a product's functions directly influences how customers perceive its value.