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

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Definitions:

Sheep Meat

This refers to the meat derived from sheep, commonly known as lamb when harvested from young sheep and mutton when from older sheep.

Little Albert

The subject of a famous psychology experiment by John B. Watson, demonstrating how emotional responses could be conditioned in humans.

Classical Conditioning

A learning process that pairs a neutral stimulus with a stimulus that elicits a reflexive response until the neutral stimulus alone elicits that response.

Observational Learning

A form of social learning where behaviors are learned by watching and imitating the actions of others.