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:

Peremptory Challenge

In a jury trial, the right of the plaintiff and the defendant in jury selection to reject, without stating a reason, a certain number of potential jurors who appear to have an unfavorable bias.

Potential Juror

An individual who is part of a pool from which a jury will be selected, potentially serving in a trial to help reach a verdict.

Bias

A tendency to lean in a certain direction, often to the detriment of an open-minded perspective, usually influenced by preconceptions or personal experiences.

Forum Selection Clause

A contractual provision that designates the jurisdiction or the court where any disputes arising under the contract will be resolved.