Which of the following is true of the 'customer perceived value' measurement used by organizations to measure customer satisfaction?
A)It measures customer satisfaction based on the likelihood of customers recommending the product to other customers.
B)It measures how customers assess benefits of the product against costs in making purchase decisions.
C)It focuses more on customer satisfaction than on customer loyalty.
D)It takes into consideration only existing customers and not potential buyers.

Question

Quizplus · Accepted Answer

Customer perceived value measures how customers assess benefits of the product against costs in making purchase decisions, making it a useful tool for organizations to determine customer satisfaction. It considers customers' perceptions of the product's worth, which is built from their expectations about its quality, convenience, and price, combined with their experiences using it. This perception of value helps organizations to understand what drives customer satisfaction and loyalty.

Which of the Following Is True of the 'Customer Perceived