Which of the following statements about customer value is most accurate?
A)Target customers assess customer value in terms of the combination of benefits (quality, convenience, etc.), regardless of the price.
B)Loyal customers are less profitable to firms in the long run since they expect lower prices over time in order to remain loyal.
C)Research suggests that firms can be most successful by being all things to all consumers.
D)It is impossible to place a dollar value on a loyal, satisfied customer.
E)To create value for targeted buyers, firms must build long-term relationships with them.

Question

Quizplus · Accepted Answer

Building long-term relationships with targeted buyers is essential to creating customer value. This allows firms to better understand their customers' needs and preferences and tailor their products or services accordingly, leading to increased customer satisfaction and loyalty. This ultimately translates to greater profitability for the firm over the long-term. Options A, B, C, and D are all incorrect as they either make generalizations that are not universally true or are outright false.

Which of the Following Statements About Customer Value Is Most