when can one say that a certain product has value

One can say that a certain product has value when it provides benefits or utility that meet or satisfy the needs and desires of its intended customers. This value is judged by how useful the product is, how well it addresses customer needs, and how customers perceive its worth compared to alternatives. Product value can be understood through several lenses: absolute value (how well it meets needs generally), comparative value (how it stacks up against competitors), real value (objective worth based on functionality and cost), and perceived value (subjective customer perception). It can also be seen in terms of functional, monetary, social, and psychological value to the customer. Ultimately, if customers believe the product delivers benefits worth the price they pay, it is said to have value.