Which of the following refers to a set of benefits that a company promises to deliver to customers to satisfy their needs?
A) customer lock-in
B) a cartel
C) marketing mix
D) value proposition
E) market segmentation

Question

Quizplus · Accepted Answer

A value proposition refers to a set of benefits that a company promises to deliver to its customers to satisfy their needs. It is a statement that outlines what the company offers, how it solves customers' problems, and why customers should choose the company over its competitors. A value proposition is an essential component of a company's marketing strategy, as it helps to differentiate the company's products or services from those of its competitors and communicate the unique value that the company offers to its customers. Customer lock-in refers to a situation where customers are bound to a company's products or services and cannot easily switch to those of a competitor. A cartel is a group of companies that come together to manipulate prices or limit competition in a particular market. Marketing mix refers to the set of tactics that a company uses to promote its products or services, including product, price, promotion, and place. Market segmentation refers to the process of dividing a market into smaller groups of customers with similar needs or characteristics.

Which of the Following Refers to a Set of Benefits