Which of the Following Is the Relevant Concept of Value

question 98

Multiple Choice

Which of the following is the relevant concept of value in marketing based on?

• A) the ability to satisfy basic consumer needs at the lowest possible cost
• B) the form utility of the product
• C) the belief of customers that a product is uniquely able to meet their needs
• D) objective measures of quality and price

---

Definitions:

Routine Maintenance

Routine maintenance refers to the regular upkeep actions performed to keep equipment or systems functioning efficiently and prevent unforeseen breakdowns.

Accumulated Depreciation

The total amount of depreciation expenses allocated to a fixed asset since it was put into use, reducing its book value.

Original Cost

The initial purchase price or investment made in acquiring an asset, including any related acquisition costs.

Leasehold

An interest in land or property which is held on a lease.