The Equation a Buyer Applies to Assess a Product's Value

question 105

Multiple Choice

The equation a buyer applies to assess a product's value is

• A) value = monetary price − customer benefits.
• B) value = customer costs − customer benefits.
• C) value = customer benefits − customer costs.
• D) value = customer benefits − monetary price.
• E) value = customer benefits − time and effort.

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Definitions:

Request For Proposal

A document that an organization posts to solicit proposals from potential vendors for a particular project or program, detailing project specifications and requirements.

Critical Training Needs

Essential areas or skills that require immediate attention and development to enhance an individual's or organization's performance.

Training Program

A structured course of activities aimed at enhancing the skills, competencies, and knowledge of participants for specific purposes.

Error-Management Training

A training method focused on teaching individuals how to manage and learn from mistakes.