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:

Shades of Gray

A metaphorical expression indicating the complexity of situations, decisions, or issues, which are not simply categorized into binary options like right or wrong.

Anvil

A heavy iron block used in metalworking, traditionally featured with a flat surface and a pointed end, serving as a surface upon which metal can be hammered and shaped.

Hammer

A tool with a heavy, typically metal, head attached to a long handle, used for breaking things apart or driving in nails.

Stirrup

A tiny bone in the middle ear that plays a critical role in the process of hearing by transmitting sound vibrations to the inner ear.