Define value and list three ways for organizations to increase value.

PBJ currently sells a product for $100. Market research suggests that the customers who buy the product perceive the value of the product as $150. PBJ considers three improvement options to the product. Market research suggests the perceived benefit for each option as follows:

Improvement option (i): Perceived benefit = $185 and selling price $125

Improvement option (ii): Perceived benefit = $200 and selling price $130

Improvement option (iii): Perceived benefit = $225 and selling price $140

Which improvement option is more attractive for customers? Explain why.