Question

The relationship between the benefits a consumer receives from a product or service and what they give up to obtain those benefits is known as:_______. a. customer satisfaction. b. sacrifice. c. an exchange. d. customer value.

Answer 1

Customer value

Step-by-step explanation:

Customer value is a marketing term representing the satisfaction or experience or benefit a customer gets from a product in exchange for the value they give to have access to the satisfaction.

In the future term, it also represents the benefit a customer expects to get from a product mostly based on the promises of the vendor in exchange for the payment or value the customer is expected to transfer to the producer for the product.

The value a customer is to give to derive the satisfaction is not limited to monetary transfers it could also include time, knowledge, even other choice products that could have offered similar benefits. Customer value will help a customer decide whether the benefit from a product is worth the expense or value given to obtain it.