________ Is Defined as the Ratio Between the Customer's Perceived

question 120

Multiple Choice

________ is defined as the ratio between the customer's perceived benefits and the resources used to obtain those benefits.

• A) Customer satisfaction
• B) Customer value
• C) Customer relationship management
• D) Consumer decision making
• E) Consumer marketing

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Definitions:

Equilibrium Price

The price at which the number of products that businesses are willing to supply equals the amount of products that consumers are willing to buy at a specific point in time.

Supply

The number of products—goods and services—that businesses are willing to sell at different prices at a specific time.

Demand

The number of goods and services that consumers are willing to buy at different prices at a specific time.

Profits

The financial gain that is realized when the amount of revenue gained from a business activity exceeds the expenses, costs, and taxes involved in sustaining the activity.