What is value for money?

To marketers, value for money is the handle for "low-price" and for "more for less". Is "value for money" really about low-price and about more for less?

Would anyone buy a product if it didn't offer value? When a brand promotes a "value for money" offer, what is it really trying to say? That it didn't offer value earlier?

A brand has to be cheaper or lower-priced only when it doesn't offer any value worth paying for. Why else would it be cheaper? Value for money isn't about price. A Mercedes Benz, despite being expensive, is also "value for money" for it's owner.

Every brand offers certain value and hence no brand can call itself a "value for money" brand. Just that the values offered by each brand differs.

What's your value? Is it tangible or intangible? Is it unique? The purpose of branding is to create value for which the consumer will pay premium. The kind that a Mercedes Benz offers. It is not about offering 15 ml more liquid for the same price.