Customer Value Refers to

question 80

Multiple Choice

Customer value refers to

• A) the need of a customer to receive the highest-quality product at the lowest possible price.
• B) the least expensive product that will provide customers with most of the basic benefits.
• C) a statement that, before product development begins, identifies a well-defined target market; specific customers' needs, wants, and preferences; and what the product will be and do to satisfy consumers.
• D) the unique combination of benefits received by targeted buyers that includes quality, convenience, on-time delivery, and both before-sale and after-sale service at a specific price.
• E) the cluster of benefits that an organization promises customers to satisfy their needs.

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Definitions:

Corporation

A legal entity recognized by law as separate from its owners, possessing rights to own assets, incur liabilities, and conduct business.

Prospectus

A document required that describes the current status of a business and its future prospects.

Over-subscription

A situation where the demand for a company's new share offering exceeds the available supply.

AASB 101

Denotes the Australian Accounting Standards Board Standard 101, prescribing the basis for presentation of general purpose financial statements to ensure comparability both with the entity's financial statements of previous periods and with the financial statements of other entities.