Customer value refers to: a. The need of a customer to receive the highest quality product at the lowest possible price. b. The least expensive product that will provide it with most of the basic benefits. c. A statement that, before product development begins, identifies (1) a well-defined target market; (2) specific customers' needs, wants, and preferences; and (3) what the product will be and do to satisfy consumers. d. The unique combination of benefits received by targeted buyers that includes quality, convenience, on-time delivery, and both before-sale and after-sale service at a specific price. e. The cluster of benefits that an organization promises customers to satisfy their needs.
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