Customers Do Not Buy Product Features or Attributes; They Buy

question 72

True/False

Customers do not buy product features or attributes; they buy the potential product.

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Definitions:

Self-Sufficient

The ability to fulfill all of one's needs without relying on external assistance.

Comparative Advantage

The ability of a country, individual, company, or region to produce a particular good or service at a lower opportunity cost than others.

Absolute Advantage

The ability of a country or firm to produce a greater quantity of a good, product, or service than competitors, using the same amount of resources.

Production Costs

The total expense incurred in manufacturing a product or providing a service, including materials, labor, and overhead.