Question

true or false: true economic value (tev) is reduced when a customer is not aware of all the features or benefits that a product claims to offer.

Answer 1

True economic value (TEV) is reduced when a customer is not aware of all the features or benefits that a product claims to offer.

Step-by-step explanation:

True

True economic value (TEV) is reduced when a customer is not aware of all the features or benefits that a product claims to offer. When customers are not aware of the full potential and value of a product, they may not perceive it to be worth as much and may be less willing to pay a higher price for it. This lack of awareness can also affect their decision-making process and lead to lower demand for the product.

For example, if a customer is not aware of the advanced features and benefits of a smartphone, they may view it as a basic device and be unwilling to pay a premium price for it. However, if they were made aware of all the additional features and capabilities, they may perceive it as a more valuable product and be willing to pay a higher price.

Answer 2

True economic value (TEV) is reduced when a customer is not aware of all the features or benefits that a product claims to offer. When customers are not fully informed about a product, they may not perceive its full value, leading to lower demand and economic value for the product.

Step-by-step explanation:

True economic value (TEV) is reduced when a customer is not aware of all the features or benefits that a product claims to offer. When customers are not fully informed about a product, they may not perceive its full value. This lack of awareness can lead to lower demand and lower economic value for the product.

For example, imagine a new smartphone that has a unique feature that allows for wireless charging. If customers are not aware of this feature, they may not be willing to pay as much for the phone compared to if they knew about and valued this feature. In this case, the lack of awareness reduces the economic value of the phone.

Therefore, the statement is true: true economic value (TEV) is reduced when a customer is not aware of all the features or benefits that a product claims to offer.