Customer life-cycle costs are the:
A)costs incurred by the selling company to satisfy the customer
B)costs to the customer for buying and using a product
C)same as the selling life-cycle prices
D)replacement costs of using a product or service

Question

Quizplus · Accepted Answer

Customer life-cycle costs refer to the costs that customers incur while buying, using, and maintaining a product or service. These costs include the purchase price, installation costs, repair and maintenance costs, operating costs, and disposal costs. It is essential for companies to understand customer life-cycle costs as it helps them to design products or services that offer better value to the customers and differentiate their offerings from competitors.

Customer Life-Cycle Costs Are The