In a Competitive Market, Perceived Value Is Determined by Consumers

question 51

Multiple Choice

In a competitive market, perceived value is determined by consumers mostly

• A) by quantitative analysis of brand personalities.
• B) in relationship to the value of competitors' offerings.
• C) by weighing primary versus secondary benefits.
• D) by trying out different products.
• E) through brand association and brand licensing.
• The perceived value of a good or service is the relationship between its benefits and its costs. In a competitive market, these benefits and costs will be easiest to evaluate in comparison to competitive offerings.

---

Definitions:

Adam And Eve

Central figures in the Abrahamic religions' creation myth, traditionally seen as the first man and woman.

Hofstede

A reference to Geert Hofstede, a Dutch social psychologist known for his research on the comparison of cultures across nations, particularly through his theory of cultural dimensions.

Cross-Cultural Values

Values that transcend cultural differences and represent fundamental beliefs that are shared across different cultures.

Marketers

Professionals who are involved in the promotion, selling, and distribution of products or services to consumers.