A Benefit Is a Perceived Favourable Result That Is Derived

question 78

True/False

A benefit is a perceived favourable result that is derived from the presence of a particular feature.

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Definitions:

Time Utility

The increase in the value of a product or service provided by making it available at a convenient time for the consumer.

Market-product Grid

A framework used to analyze and display the relationship between different markets and the products a company offers.

Target Market Segments

Describes specific groups of potential customers separated based on distinct characteristics, needs, or preferences to which a company aims its marketing efforts.

Product Groupings

The categorization of various products into distinct groups based on similarities, such as function or target market.