To Understand the Concept of Customer Value, It Is Important

question 27

Multiple Choice

To understand the concept of customer value, it is important to remember that:

• A) customers are value- maximisers.
• B) most customers are unaware of the actual value they receive in consuming products.
• C) some customers are more important than others.
• D) all of the above
• E) none of the above

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Definitions:

Competitive Instinct

The natural tendency or inclination to aim at outperforming others or being the best in a given scenario.

Norman Triplett

A psychologist known for his work on the social facilitation effect, showcasing how the presence of others affects performance.

Teamwork

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

Corporations

Are legal entities established to conduct business, capable of entering into contracts, suing and being sued, and owning assets separate from their members or shareholders.