Value
A) Is equivalent to profit for a seller
B) Is the perception of how much the buyer benefited beyond what was invested in a product
C) Is the reason why an organization is created
D) Is based on some general need that has been identified in the market
E) Is the recognition of a need and the means to satisfy it

Question

Quizplus · Accepted Answer

Value is the perception of how much the buyer benefited beyond what was invested in a product. It is not equivalent to profit for a seller (A), the reason why an organization is created (C), or based on some general need that has been identified in the market (D). While recognizing a need and the means to satisfy it can be part of creating value, it is not a complete definition on its own (E).