arrow
arrow
arrow
Which, of the following inputs are considered while deciding economic value-to-customer pricing’ A. Buyer’s image of the product performance B.
Question



Which, of the following inputs are considered while deciding economic value-to-customer pricing’
A. Buyer’s image of the product performance
B. Warranty quality
C. Desired rate of return
D. Customer demand
E. Customer support
Choose the correct answer from the options given below:

A.

A, B, E

B.

A, C, D only

C.

B, D, E only

D.

A, B, C, D only

Correct option is A


Economic value-to-customer (EVC) is a marketing concept that measures the financial benefit that a customer perceives from a product or service. It is the difference between the benefits that a customer receives from a product or service and the total cost of owning and using that product or service
a. Buyer's image of the product performance - A buyer's image of a product performance refers to their perception or expectation of how well a product will meet their needs and perform its intended function. This image is often shaped by a variety of factors, including the buyer's previous experiences with similar products, marketing and advertising, reviews and recommendations from other buyers, and the product's features and specifications.
b. Warranty quality - Warranty quality refers to the level of protection and support that a manufacturer provides to a buyer in case the product fails to perform as expected or is found to be defective. It can include aspects such as the duration of the warranty, the type of coverage provided, and the ease of making a claim.
e. Customer support - Customer support refers to the assistance and service that a company provides to its customers before, during, and after the purchase of a product or service. It includes a wide range of activities, such as answering questions, providing technical support, helping customers troubleshoot problems, and resolving complaints and issues.

Free Tests

Free
Must Attempt

Basics of Education: Pedagogy, Andragogy, and Hutagogy

languageIcon English
  • pdpQsnIcon10 Questions
  • pdpsheetsIcon20 Marks
  • timerIcon12 Mins
languageIcon English
Free
Must Attempt

UGC NET Paper 1 Mock Test 1

languageIcon English
  • pdpQsnIcon50 Questions
  • pdpsheetsIcon100 Marks
  • timerIcon60 Mins
languageIcon English
Free
Must Attempt

Basics of Education: Pedagogy, Andragogy, and Hutagogy

languageIcon English
  • pdpQsnIcon10 Questions
  • pdpsheetsIcon20 Marks
  • timerIcon12 Mins
languageIcon English

Similar Questions

test-prime-package

Access ‘UGC NET Commerce’ Mock Tests with

  • 60000+ Mocks and Previous Year Papers
  • Unlimited Re-Attempts
  • Personalised Report Card
  • 500% Refund on Final Selection
  • Largest Community
students-icon
370k+ students have already unlocked exclusive benefits with Test Prime!
Our Plans
Monthsup-arrow