Customer value refers to
A) the need of a customer to receive the highest quality product at the lowest possible price.
B) the degree to which a customer is willing to sacrifice quality for price.
C) a statement that, before product development begins, identifies (1) a well-defined target market; (2) specific customers' needs, wants, and preferences; and (3) what the product will be and do to satisfy consumers..
D) the unique combination of benefits received by targeted buyers that includes quality, convenience, on-time delivery, and both before-sale and after-sale service at a specific price.
E) the cluster of benefits that an organization promises customers to satisfy their needs.

Question

Quizplus · Accepted Answer

Customer value refers to the unique combination of benefits received by targeted buyers that includes quality, convenience, on-time delivery, and both before-sale and after-sale service at a specific price. Option A is incorrect because it's only focused on price and not other benefits that contribute to customer value. Option B is incorrect because it suggests that customers are willing to sacrifice quality for price, which is not always true. Option C is incorrect because it refers to a product development statement, which is not the same as customer value. Option E is incorrect because it's too vague and does not identify specific benefits that contribute to customer value.

Customer Value Refers to