The Consumer Value Framework (CVF) Represents

question 65

Multiple Choice

The Consumer Value Framework (CVF) represents:

• A) the set of value-seeking activities that take place as consumers go about addressing their real needs.
• B) the multitude of value-producing seller activities that facilitate exchanges between consumers and marketers.
• C) the consumer behavior theory, illustrating factors that shape consumption-related behaviors.
• D) the approximate worth of a customer to a company in economic terms.

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Definitions:

Prototype

An original model or preliminary version of something from which other forms are developed or copied.

Mental Set

A psychological tendency to approach problems in a certain way due to past experiences and successes, potentially limiting creativity.

Practical Intelligence

refers to the ability to solve everyday problems by utilizing knowledge gained from experience rather than from formal academic education.

Robert Sternberg

An American psychologist known for his theory on love and intelligence, including the Triarchic Theory of Intelligence.