Porter defined ________ as the amount of money that a customer is willing to pay for a resource,product,or service.
A)profit
B)value
C)margin
D)price

Question

Quizplus · Accepted Answer

Porter defined value as the amount of money that a customer is willing to pay for a resource,product, or service. Value is created when the price that a customer is willing to pay (which is derived from their perception of the product's or service's worth) exceeds the cost of producing the product or providing the service.

Porter Defined ________ as the Amount of Money That a Customer