The essence of marketing worldwide is to surpass the competition in creating perceived value, which can be represented as:
A)Value = Price/Benefits
B)Value = Benefits/Price
C)Value = Benefits x Price
D)Value = Benefits - Price
E)Value = Benefits + Price

Question

Quizplus · Accepted Answer

This formula represents the perceived value that a customer derives from a product or service. It suggests that the higher the benefits a customer perceives from a product or service in relation to its price, the higher the value they will assign to it. This is the essence of marketing - to create a higher perceived value for a product or service than that of the competition.

The Essence of Marketing Worldwide Is to Surpass the Competition