Asked by Jalon Williams on Apr 29, 2024
Verified
The quality a customer receives adjusted for the price a customer pays for a product is known as ________.
A) perception
B) dividend
C) loyalty
D) value
Customer Receives
The process by which a customer gets the product or service they have purchased.
Price Pays
The concept that the value or quality of a product or service is reflected in its price, implying that higher prices often indicate better quality.
- Acquire knowledge on the core principles behind value creation within marketing, and its connection to how products are priced and perceived by consumers.
Verified Answer
CS
Chanon SmitthakornMay 01, 2024
Final Answer :
D
Explanation :
The quality a customer receives adjusted for the price they pay is known as value. This concept is important for businesses to understand as customers will want to feel like they are getting a good deal for their money. By providing good value to customers, businesses can increase customer satisfaction, loyalty, and ultimately sales.
Learning Objectives
- Acquire knowledge on the core principles behind value creation within marketing, and its connection to how products are priced and perceived by consumers.