Which of the following statements best defines value?
A)the coordination of all seller-initiated efforts to set up channels of information and persuasion in order to sell goods and services or promote an idea
B)the combination of factors like name, logo, design, and packaging that comes to mind when consumers think about a brand
C)the desire and ability of two or more parties to exchange something of importance with one another
D)the customer's perception of all of the benefits of a product or service weighed against all the costs of acquiring and consuming it
E)the amount of funds invested by the shareholders of a company in promoting its product portfolio

Question

Quizplus · Accepted Answer

Value is the customer's perception of all the benefits of a product or service weighed against all the costs of acquiring and consuming it. This definition takes into consideration the customer's viewpoint and emphasizes that value is subjective and varies from person to person.

Which of the Following Statements Best Defines Value