Customer Value Refers to

question 215

Multiple Choice

Customer value refers to

• A) the need of a customer to receive the highest quality product at the lowest possible price.
• B) the degree to which a customer is willing to sacrifice quality for price.
• C) a statement that, before product development begins, identifies (1) a well-defined target market; (2) specific customers' needs, wants, and preferences; and (3) what the product will be and do to satisfy consumers..
• D) the unique combination of benefits received by targeted buyers that includes quality, convenience, on-time delivery, and both before-sale and after-sale service at a specific price.
• E) the cluster of benefits that an organization promises customers to satisfy their needs.

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Definitions:

Class Inclusion

A cognitive operation that allows a person to see that some classes or sets of objects are subsets of a larger class, and to understand the relationship between the whole and its parts.

Conservation Problems

Issues related to the sustainable management and preservation of natural resources and environments.

Working Memory

A cognitive system responsible for temporarily holding information available for processing, critical for reasoning and the guidance of decision-making and behavior.

Impulse Control

The ability to delay gratification and resist unwanted behaviors or urges.