UGC NET COMMERCE SOLVED PAPERS 2017-19 - UGC NET COMMERCE June 2019

92. Which of the following reflects the sum of perceived tangible and intangible benefits and costs to a customer?

  • Option : C
  • Explanation : Value reflects the sum of the perceived tangible and intangible benefits and costs to customers. It’s primarily a combination of quality, service, an d price, called the “customer value triad.” Value increases with quality and service and decreases with price, although other factors can also play an important role in perceptions of value.
    Value is a central marketing concept. Marketing can be seen as the identification, creation, communication, delivery, and monitoring of customer value. Satisfaction reflects a person’s comparative judgement of a product’s perceived performance (or outcome) in relation to expectations. If product performance falls short of expectations, the custom er is dissatisfied and disappointed. If it matches expectations, the customer is satisfied–and if it exceeds expectations, the customer is delighted.
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