A business offers value when customers judge that its products deliver a better relationship between benefits and costs than its competitors' products.

Question

Quizplus · Accepted Answer

This statement is true. Customers perceive value when they perceive that a business's products provide benefits that outweigh the costs of purchasing them, compared to the benefits and costs of their competitors' products. This concept is known as customer perceived value (CPV).

A Business Offers Value When Customers Judge That Its Products