Which of the following is true of customer value?Group of answer choicesIdentifying customer value is not essential for small businessesIdentifying customer value is important only when selling niche products.Customers’ perceptions of value remain constant over time.Evaluations of customer value must be conducted regularly.

Which of the following is true of marketing plans and customer value?Group of answer choicesMarketing strategies should be inflexible since customers’ perceptions of value rarely change.Determining customer value through secondary market research is impossible for small businesses operating in niche markets.Determining customer value through primary market research tactics is impossible for multinational businessesDelivering customer value should be the key consideration in all marketing mix decisions.

Which aspect is important to a customer-centric value proposition?Group of answer choicesListing the technical specifications of the product.Emphasising the company's achievements.Focusing on how the product solves customer problems.Highlighting the impressive features of the product

Understanding what the customer wants and values is an important first step in identifying your competitors.Group of answer choicesTrueFalse

Changing value propositions in today’s economy—such as changes caused by the growth in e-commerce—have forced marketers to learn a tough lesson about customers. What is that lesson?Group of answer choicesCustomers will always seek the best quality regardless of price.Customers would rather perform service for themselves to save moneyCustomers will turn to the most convenient, least expensive alternative in situations where they see goods and services as commodities.Customers will always turn to the most recognized brand.Customers will always seek the best value regardless of quality.

Which of the following statements best characterizes business valuation?Group of answer choicesValuation is almost a perfect science.Because there are so many intangibles, valuation is mostly an art.The buyer determines the value of a business.Negotiation skills play an important part in valuation.