Answered: Which of the following add customer…

Principles Of Marketing

17th Edition

ISBN:9780134492513

Author:Kotler, Philip, Armstrong, Gary (gary M.)

Publisher:Kotler, Philip, Armstrong, Gary (gary M.)

Chapter1: Marketing: Creating Customer Value And Engagement

Section: Chapter Questions

Problem 1.1DQ

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Related questions

Question

Which of the following add customer value?

Group of answer choices

storage time

processing time

setup time

idle time

Expert Solution

Step 1

Customer value looks at a product or service's value and compares it to other options. This establishes whether the buyer believes the product or service was worth their price.

Customer value can be used to shed light on buyer's remorse. Customers will regret their purchase if they believe that the overall cost of an item surpasses its advantages, primarily if a rival provides a more significant deal than yours for a comparable good or service.

Your company can set fair prices for its products and lessen customer experience friction by clearly understanding customer value and how to measure it.