In the textbook, "value" is defined as
A) "the lowest price."
B) "the ability to differentiate one product from another."
C) "the satisfaction a product creates for customers."
D) "the highest price."

Question

Quizplus · Accepted Answer

Value is defined as the satisfaction a product creates for customers. It is not necessarily the lowest or highest price, and although differentiation can contribute to value, it is not the sole definition.

In the Textbook, "Value" Is Defined as