From a Customer's Perspective, Value Reflects

question 99

Multiple Choice

From a customer's perspective, value reflects

• A)the need for value and the perception of value.
• B)explicit versus implicit value.
• C)the relationship of benefits to costs.
• D)the balance between needs and wants.
• E)the need for product improvement.

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Definitions:

Differentiates Product

The process or strategy of making a product stand out from its competitors in the market.

Publicity

An aspect of public relations consisting of any message about your company communicated through the mass media that you do not pay for.

Mass Media

Various forms of communication channels, such as television, radio, newspapers, and the internet, that reach a large audience simultaneously.

Customer-oriented Pricing

A pricing strategy that considers the perceived value of the product or service to the customer rather than solely the cost of production.