In the context of product management,value refers to the:
A)tangible aspects of a firm's product or service.
B)quality of a product and not its price.
C)amount of money spent in producing a product.
D)returns a customer gets in exchange for what he or she gives.

Question

Quizplus · Accepted Answer

Value refers to the benefits customers receive from a product or service in exchange for what they give, whether it be money, time, or other resources. It includes both tangible and intangible aspects such as quality, convenience, and customer support. Therefore, option D is the best choice as it clearly defines the concept of value in product management.

In the Context of Product Management,value Refers to The