Sam needed a new pair of bicycle pedals as the pedals of his bicycle had cracks in them. After visiting several stores to find the right ones, he purchased a pair from a local store, All Things Sports, and was satisfied that his needs were met. Which of the following best describes the type of value Sam received?
A) Premium value
B) Utilitarian value
C) Hedonic value
D) Terminal value

Question

Quizplus · Accepted Answer

Sam received utilitarian value, as his need for functional bicycle pedals was fulfilled by the purchase from All Things Sports. The other options don't fit in the given scenario; Premium value refers to high-quality, luxury or exclusive products/services, Hedonic value refer to the emotional experience associated with the purchase, and terminal value refers to the end result or outcome that a person seeks.

Sam Needed a New Pair of Bicycle Pedals as the Pedals