Customer Value ______

question 54

Multiple Choice

Customer value ______.

• A) is greater if costs exceed benefits
• B) becomes less important as competition increases
• C) is the same thing as low price
• D) affects a customer's relationship with a firm before and after a sale
• E) None of these responses is correct.

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Definitions:

Convenience Products

Items that consumers purchase frequently, immediately, and with minimal comparison and buying effort, such as household goods or snacks.

Convenience Products

These are items that consumers purchase frequently, immediately, and with minimal comparison and buying effort, like bread or soft drinks.

Competing Products

Goods or services that are offered in the same market and serve similar functions, thereby competing for the same customer base.

Competing Stores

Retail or service establishments that offer similar products or services targeting the same customer base, and thus are in direct competition with each other.