The amount a customer would have to pay to make the total life cycle costs of a new and a reference product the same is referred to as which of the following?
A)Referral Pricing
B)Lifecycle costs
C)Economic value to customer
D)Trade off analysis

Question

Quizplus · Accepted Answer

The amount a customer would have to pay to make the total life cycle costs of a new and a reference product the same is known as the economic value to the customer. It is the value customers place on a product considering the total lifetime cost of owning and using it, and not just the price of acquisition.

The Amount a Customer Would Have to Pay to Make