Cluster of Benefits That an Organization Promises Customers to Satisfy

question 256

Multiple Choice

cluster of benefits that an organization promises customers to satisfy their needs is referred to as a(n) __________.

• A) core benefit proposal
• B) product protocol
• C) marketing program
• D) customer value
• E) customer value proposition

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Definitions:

Repeated Game

A strategic situation where the same game is played multiple times by the same participants, allowing for strategy development based on previous outcomes.

Reciprocity

A mutual exchange of privileges or benefits, such as when two or more countries agree to grant each other equal trading terms or access to markets.

Price War

A competitive situation where businesses continuously lower prices to undercut competitors, potentially at the cost of profit margins.

Payoff Matrix

A visual representation in game theory of the potential outcomes or rewards from different actions or strategies adopted by players.