What Is Customer Value

question 28

Multiple Choice

What is customer value?

• A)the difference between what a customer receives and what the customer gives up when buying a product or service
• B)the establishment of a competitive advantage by creating better customer value for the same cost
• C)the efficient performance of necessary activities and elimination of activities that do not create customer value
• D)the improvement of costing accuracy by emphasizing the activities and tasks that must be performed

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Definitions:

Distal Socialization Outcomes

Distal socialization outcomes refer to the long-term effects of socialization processes on individuals, such as career success, job satisfaction, and organizational commitment.

Institutionalized Socialization

The process by which individuals learn and adopt the norms, values, and behaviors necessary for functioning within a particular organization or society.

Collective

A group or gathering of individuals who share common interests or are working towards a common goal.

Formal

Pertains to actions, processes, or structures that are officially recognized and followed, often in professional or ceremonial contexts.