The benefits that a customer derives from having access to or owning and using a product minus the costs of acquiring that product is BEST defined as:
A) reciprocity.
B) market price.
C) latent costs.
D) customer value.
E) perceived price.

Question

Quizplus · Accepted Answer

Customer value refers to the benefits that a customer gets from owning and using a product minus the cost of acquiring that product. It takes into account both tangible and intangible benefits and is one of the most important variables that influence customer purchasing decisions.

The Benefits That a Customer Derives from Having Access to or Owning