Customer Value Represents a Business Customer's Overall Assessment of a Supplier

question 58

Essay

Customer value represents a business customer's overall assessment of a supplier based on perceptions of benefits received and sacrifices made. Discuss the benefits and sacrifices typically considered by customers when assessing value. What has recent research discovered matters most in customer value and how do these findings impact business marketing strategies?

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Definitions:

Calculate

The process of determining a numerical result or figure through mathematical operations.

Environmental Prevention Costs

Expenses incurred to prevent environmental damage, such as pollution prevention measures and sustainability initiatives.

Calculate

The process of determining the result of numerical operations, or solving mathematical equations and problems.

Private Costs

Private costs are the direct costs incurred by individuals or companies as a result of their own production or consumption activities, excluding any external or social costs.