Which of the following statements about customer value is MOST ACCURATE?
A)Target customers assess customer value in terms of the combination of benefits (quality,convenience,etc. ),regardless of the price.
B)Loyal customers are less profitable to firms in the long run since they expect lower prices over time in order to remain loyal.
C)Research suggests that firms can be most successful by being all things to all consumers.
D)It is impossible to place a dollar value on a loyal,satisfied customer.
E)To create value for targeted buyers,firms must build long-term relationships with them.

Question

Quizplus · Accepted Answer

Building long-term relationships with targeted buyers is essential in creating customer value because it allows firms to better understand their customers' needs and preferences, which in turn enables them to provide tailored benefits that meet their customers' expectations. Additionally, by building long-term relationships, firms can cultivate customer loyalty, which is highly profitable in the long run as loyal customers are more likely to make repeat purchases and recommend the brand to others.

Which of the Following Statements About Customer Value Is MOST