Customer Value Refers to

question 21

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 (1)a well-defined target market;(2)specific customers' needs,wants,and preferences;and (3)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.

---

Definitions:

Preventative Maintenance

Maintenance activities performed regularly on equipment before faults occur, aimed at preventing breakdowns and ensuring efficient operation.

Breakdowns

Unplanned stops in machinery or systems due to failure, requiring maintenance or repairs to return to operational state, similar to the concept of Breakdown Maintenance but emphasizing the event rather than the response.

Preventative Measures

Actions taken to reduce the likelihood of an undesirable event occurring, focusing on risk management and safety protocols.

Low Watt Bulbs

Light bulbs that are designed to consume less electrical power, often leading to energy savings and reduced operational costs.