PREVIOUS YEAR SOLVED PAPERS - June 2019
- 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.
