Asked by Baylee Johnson on Jun 24, 2024
Verified
In order to measure the value customers receive from a product, marketers need only look at the actual monetary outlay the customer must produce in order to obtain the product.
Monetary Outlay
The amount of money spent on a specific item, service, or activity.
Measure
A method or tool used to quantify or assess a variable or condition.
Value
Refers to the importance or worth that a product or service has in the eyes of the consumer, often influencing their purchasing decisions.
- Understand the concept of value creation and delivery in marketing.
Verified Answer
FI
Folopater IbrahimJun 29, 2024
Final Answer :
False
Explanation :
Value perception includes not only the actual monetary cost but also the perceived benefits, convenience, emotional satisfaction, and other non-monetary factors that contribute to the overall value a customer attributes to a product.
Learning Objectives
- Understand the concept of value creation and delivery in marketing.