When Holiday Inn decided to create a new version of their traditional hotel chain called Holiday Inn Express,they recognized that consumers were concerned about obtaining the best quality for a given price.This concept is known as:
A)price matching
B)value consciousness
C)value purchase
D)value business model

Question

Quizplus · Accepted Answer

The concept of consumers being concerned about obtaining the best quality for a given price is known as "value consciousness." This is an important factor for businesses like Holiday Inn when creating new versions of their traditional product lines, such as the Holiday Inn Express. This allows them to cater to consumers who are looking for a cheaper alternative without compromising on quality. Therefore, the best choice is B - value consciousness.

When Holiday Inn Decided to Create a New Version of Their