________ Value Is the Price Customers Would Be Willing to Pay

question 112

Multiple Choice

________ value is the price customers would be willing to pay if they perfectly understood the benefits offered, while ________ value is what determines the price they are willing to pay.

• A)Objective; perceived
• B)Perceived; objective
• C)Objective; quantitative
• D)Perceived; real

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Definitions:

Fred Fiedler

A psychologist known for developing the contingency theory of leadership, suggesting that the effectiveness of a leader is contingent on both their leadership style and the situation's demands.

Situational Leadership Model

A leadership theory proposing that the most effective leadership style varies according to the situation and the developmental level of the followers.

Fiedler's Contingency Theory

A leadership theory suggesting that no single leadership style is optimal; instead, the effectiveness of a leader depends on the match between the leader's style of interacting with subordinates and the degree of control and influence the situation provides the leader.

Relationship-oriented Style

A leadership approach focused on building strong interpersonal relationships within a team or organization.