A Steinway piano-any Steinway piano-costs a lot. But to those who own one, a Steinway is a great value. This is an example of _.
A) customer lifetime value
B) customer share
C) customer perceived value
D) share of customer
E) customer experience

Question

Quizplus · Accepted Answer

This is an example of customer perceived value, which refers to the worth or value a customer assigns to a product based on its perceived benefits and costs. In this case, despite the high cost, owners perceive the Steinway piano as a great value.

A Steinway Piano-Any Steinway Piano-Costs a Lot