Asked by Lyborn Mhlongo on Sep 28, 2024
A product that falls within the fair value zone of a value map is perceived by consumers as delivering benefits that are ________ the product's cost.
A) equal to
B) less than
C) greater than
D) unrelated to
Fair Value Zone
An assessment area within which the price of an asset is considered to reflect its true market value.
Value Map
A tool used to compare the value delivered by different products or services in the marketplace from the perspective of the customer.
Product's Cost
The total expense incurred in manufacturing, marketing, and distributing a product to the end user.
- Understand the principles of value creation in marketing and how it relates to product pricing and consumer perception.
Learning Objectives
- Understand the principles of value creation in marketing and how it relates to product pricing and consumer perception.