________ is determined by a customer's evaluation of the benefits and costs of a market offering relative to those of competing offers.
A) Customer-perceived value
B) Customer lifetime value
C) Share of customer
D) Customer-managed relationship
E) Brand value proposition

Question

Quizplus · Accepted Answer

Customer-perceived value is the value that customers perceive they receive from a product or service, based on their evaluation of the benefits and costs relative to competing offers. This value is subjective and varies from customer to customer, as different customers may place different weights on different benefits and costs. Therefore, companies must understand their customers' needs and preferences and design their offerings to meet or exceed these expectations. By delivering superior customer-perceived value, companies can build customer loyalty and gain a competitive advantage in the market.

________ Is Determined by a Customer's Evaluation of the Benefits