Customer Value Is

question 1

Multiple Choice

Customer value is:

• A) derived from the price of the product.
• B) the difference between all of the benefits derived from the total product and all of the costs of acquiring those products.
• C) the cost to the consumer of altering their behaviour to buy a product.
• D) the difference between the perceived financial and social costs in obtaining the product and the financial and social gain in owning the product.

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Definitions:

Adapting

The process of making adjustments or changes in order to suit new conditions or environments.

Commercializing Innovation

The process of bringing new and innovative products or services to the market, turning ideas into commercial successes.

New Ideas

Original or innovative thoughts, concepts, or approaches that have not been previously implemented or explored.

Reduced Costs

refers to decreases in expenses or outlays, often achieved through efficiency improvements, negotiations, or adopting new technologies.