The relationship between the benefits a consumer receives from a product or service and what they give up to obtain those benefits is known as: a. customer satisfaction. b. sacrifice. c. an exchange. d. customer value.

Question

Kaiden Farley

Business

3 November, 10:17

The relationship between the benefits a consumer receives from a product or service and what they give up to obtain those benefits is known as: a. customer satisfaction. b. sacrifice. c. an exchange. d. customer value.

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Answers (1)

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Dereon Stout · Answer 1

Answer: Option (A) is correct

Explanation:

Customer satisfaction can be referred to as a measure of how commodities and services provided by an organization meets customer expectation. On the other hand, it is defined as "the no. of individuals, or as % of total consumers, whose experience with an organization, its commodities, or its services meets satisfaction goals." It can also be referred to as a rapport between the benefits an individual receives from a commodity and its opportunity cost in order to obtain these benefits.