Question

A product will be purchased only if it is perceived to be giving the greatest benefit for the money.

Name the feature of marketing reflected in this statement.

Options

• Creating a market offering

• Customer value

• Exchange mechanism

• Needs and wants

Answer 1

Customer value

Explanation:

The statement reflects the feature of customer value, which means customers compare the benefits a product offers with the price they pay for it. A product is purchased only when it provides the greatest value for money; that is, when customers feel they are getting the best benefits compared to the cost. Hence, the correct answer is customer value.