What Does Delivering Customer Value Mean

question 84

Multiple Choice

What does delivering customer value mean?

• A) promising to deliver customers everything they want at a price that even they cannot believe
• B) offering customers the lowest price imaginable
• C) beating the competition's price and delivery time
• D) paying attention to customer feedback

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Definitions:

Consumer Surplus

The discrepancy between the amount consumers are ready to pay for a good or service and the price they end up paying.

Producer Surplus

The difference between what producers are willing to accept for a good or service and what they actually receive.

Rent-Seeking Behavior

Activities aimed at increasing one's share of existing wealth without creating new wealth, often through manipulation of the economic environment.

Consumer Welfare

A measure of the satisfaction or benefit that consumers receive from the consumption of goods and services.