The Benefits or Customer Value Received by Users of a Product

question 97

Multiple Choice

The benefits or customer value received by users of a product is called

• A) utility.
• B) synergy.
• C) consumerism.
• D) cost-benefit ratio.
• E) customer lifetime value.

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Definitions:

Teamwork

The collaborative effort of a group to achieve a common goal or complete a task in the most effective and efficient way.

Social Loafing

The phenomenon where individuals exert less effort to achieve a goal when they work in a group rather than alone.

Individual Accountability

The obligation of an individual to account for his/her activities, accept responsibility for them, and to disclose the results in a transparent manner.

Groupthink

A psychological phenomenon that occurs within a group of people when the desire for harmony or conformity results in irrational or dysfunctional decision-making outcomes.