Consumers will often make comparative value assessments. That is, the consumer will judge one product or service against other alternatives or substitutes. In doing so, a " ________" emerges, which involves comparing the prices and benefits of substitute items.
A)comparative value
B)reference value
C)assessed value
D)differential value

Question

Quizplus · Accepted Answer

Reference value is the correct term because it refers to the benchmark or standard that consumers use to compare the prices and benefits of different products or services against each other.

Consumers Will Often Make Comparative Value Assessments