What is value?
A) It refers to inexpensive merchandise.
B) It is the relationship between what consumers have and what they want.
C) It is the relationship between desires and needs.
D) It is the relationship between what consumers receive and what they have to pay for it.
E) It refers to the lowest price and the lowest quality merchandise or service.

Question

Quizplus · Accepted Answer

Value is the ratio of what customers receive (the perceived benefit of the products and services offered by the retailer) to what they have to pay for it.

What Is Value