Which of the Following Statements Is True About Customer Value

question 48

Multiple Choice

Which of the following statements is true about customer value?

• A) The customer value equation is represented by B = V/P, where B = benefits, V = value, and P = price.
• B) Value can always be increased for a customer by increasing the price of a product or service.
• C) A company can succeed in a market only if its perceived value is equal to, and not lesser than or greater than, its competitors.
• D) A company that has high perceived value can charge more than its competitor for the same product.

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Definitions:

Consideration

Consideration in leadership and organizational behavior refers to the extent to which a leader shows care, concern, and respect for followers' needs and feelings.

Psychological Closeness

The feeling of proximity and intimacy towards another individual or group, which may not necessarily correspond to physical distance.

Misleading Statement

A declaration or assertion that is intended to deceive or lead a person away from the truth or accurate understanding.

Situational Leadership Model

A leadership theory proposing that the most effective leaders adapt their style according to the maturity and capability of their followers and the specifics of the situation.