In order to be successful in creating mutually-beneficial exchanges with customers, the marketer must focus on creating value in fact and in the mind of the customer. For the most part, value is a customer's ________________ assessment of benefits relative to costs. The marketer should recognize that the process people use to determine value _______________.

Question

​In order to be successful in creating mutually-beneficial exchanges with customers, the marketer must focus on creating value in fact and in the mind of the customer. For the most part, value is a customer's ________________ assessment of benefits relative to costs. The marketer should recognize that the process people use to determine value _______________.

Quizplus · Accepted Answer

Value is subjective in nature and varies from customer to customer. It is not a scientific assessment as it is based on individual perceptions and experiences. Therefore, the marketer must focus on creating value in the mind of the customer by understanding their needs and preferences.

​In Order to Be Successful in Creating Mutually-Beneficial Exchanges with Customers

In Order to Be Successful in Creating Mutually-Beneficial Exchanges with Customers