While buying a car,a potential buyer takes into consideration several aspects of the car,such as its design,quality,ease of servicing,speed,and mileage.An automobile company,that takes into consideration all these aspects while manufacturing and selling its cars,is said to be practicing the _____ concept.
A) value marketing
B) multifaceted product
C) total value
D) product value
E) net worth

Question

Quizplus · Accepted Answer

The concept that matches the given scenario is the total value concept. This concept suggests that a company should strive to provide maximum value to its customers by taking into consideration all aspects of a product, such as design, quality, servicing, speed, and mileage. Therefore, a company that considers all these aspects while manufacturing and selling its cars is said to be practicing the total value concept. None of the other concepts mentioned in the options match the given scenario accurately.

While Buying a Car,a Potential Buyer Takes into Consideration Several