What is Value?

Value is an object or a particular good for which people have a desire to buy. In economics the worth of all the benefits and rights what a certain person owns. In marketing value is considered to be the willingness of a customer to pay for a certain product or service. And it's more likely to depend on the customer's perception of worth then the actual manufacturing costs plus profits. All in all the easiest way to define the term value is price multiplied by quantity.