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Customer Value
Refers to the perceived worth of a product or service in the eyes of the customer, balancing its benefits against its cost.
Product Orientation
A business philosophy that focuses on the quality and attributes of the product itself rather than customer needs or desires.
Marketing Concept
A business philosophy that emphasizes identifying and meeting the needs and wants of customers as the key to achieving organizational goals.
Production Cycle
The sequence of steps involved in producing a good or service, from the initial concept or design to the final product delivery.
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