Customers who perceive added value are less likely to choose a competing product simply on the basis of price.

Question

Quizplus · Accepted Answer

Customers are likely to be more loyal to a product that they perceive as providing added value, meaning they see benefits beyond just the price. These benefits may include high-quality materials, improved features, or excellent customer service. As a result, they may be less likely to switch to a competing product simply because it has a lower price point.

Customers Who Perceive Added Value Are Less Likely to Choose