_____ Refers to the Difference Between the Benefits a Customer

question 306

Multiple Choice

_____ refers to the difference between the benefits a customer sees from a market offering and the costs of obtaining those benefits.

• A) Operating cost
• B) Profit margin
• C) Customer value
• D) Net value
• E) Satisfaction

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Definitions:

Spending Variance

The difference between the actual and budgeted spending. It is used in budgetary control to identify discrepancies and manage costs.

Travel Expenses

Costs associated with traveling for the purpose of conducting business-related activities.

Customers Served

The total number of customers who have been provided with a product or service.

Spending Variance

The variance between the anticipated budget for expenses and the actual expenditure incurred.