A customer attaches value to a product in proportion to the:
A) price in a competitive framework.
B) cost incurred in the production of the product.
C) product's perceived ability to help solve problems.
D) income level of the household.

Question

Quizplus · Accepted Answer

A customer's perceived value of a product is strongly influenced by the product's perceived ability to help solve problems or meet needs, rather than the price, cost or income level. This is why companies often focus on communicating how their products can benefit the customer or solve their problems, rather than just talking about price or features.

A Customer Attaches Value to a Product in Proportion to The