reference value __________.
A) is relative to the amount of time and energy a consumer puts into the purchase process
B) is based upon the value assigned to similar items used by the consumer's peers
C) results from performing a careful break-even analysis
D) involves comparing the costs and benefits of substitute items
E) is based upon the differential between customers' "needs" and their "wants"

Question

Quizplus · Accepted Answer

Reference value involves comparing the costs and benefits of substitute items, as it is the perceived value of a product in comparison to alternatives.

Reference Value __________