A reference value is developed by the consumer through
A) considering the amount of time and energy a consumer puts into the purchase process.
B) judging similar items used by the consumer's peers.
C) performing a careful break-even analysis.
D) comparing the costs and benefits of substitute items.
E) examining the true difference between customers' "needs" and "wants."

Question

Quizplus · Accepted Answer

A reference value is developed by the consumer by comparing the costs and benefits of substitute items, as this helps them determine the perceived value of a product relative to alternatives.

A Reference Value Is Developed by the Consumer Through