____ is a customer's subjective assessment of benefits relative to costs in determining the worth of a product.
A) Marketing orientation
B) Monetary price
C) Product assessment
D) Price assessment
E) Value

Question

Quizplus · Accepted Answer

The definition provided perfectly matches the concept of value, which refers to the perception of the customer regarding the benefits that a product or service provides compared to its cost. The other options are not suitable answers because they either do not address the customer's perspective directly (marketing orientation, product assessment, price assessment) or focus exclusively on the price component of the value equation (monetary price).

____ Is a Customer's Subjective Assessment of Benefits Relative to Costs