Ask Question
BusinessBusiness
22 December, 12:55

Value consists of: a. a product's performance characteristics and attributes for which customers are willing to pay. b. a product's proprietary characteristics and attributes for which customers are willing to pay. c. a product's proprietary characteristics and attributes for which customers consider paying. d. a product's performance characteristics and attributes for which customers consider paying.

+5
Answers (1)
  1. 22 December, 13:16
    0
    A) a product's performance characteristics and attributes for which customers are willing to pay.

    Explanation:

    Only customers can assign value to a product. A manufacturer can set a product's price, but if the customers do not accept that price and assign a lower value to the product, then they will not purchase it. This applies to every single market situation (except for command economies) including monopolies, free markets, monopolistic competition, etc. Customers value a product depending on its performance characteristics and attributes, e. g. sports cars are value for being fast, Volvos for being safe, compared to other similar products. Customers do not value unique one of a kind characteristics, they value relative characteristics, i. e. the best product has a higher value.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “Value consists of: a. a product's performance characteristics and attributes for which customers are willing to pay. b. a product's ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers
You Might be Interested in
Explain why a perfectly competitive firm does not expand its sales without limit if its horizontal demand curve indicates that it can sell as much as it desires at the current market price.
Answers (1)
Why did this region grow in economic importance?
Answers (1)
Kyong buys 6 small cans of wood stain. Each can contains 250 milliliters (mL). How many liters of stain did Kyong buy?
Answers (1)
Sun Yip, the marketing manager at Bryte Systems Inc., decides to enter into foreign markets as his company has surplus amounts of fluorescent light bulbs because of an accidental overrun in manufacturing.
Answers (1)
Prior to a basketball game, coach keating shakes his players' hands. each player then gives the others a fist bump and a hug. in contrast, coach lopez wishes the players luck and then the team goes through a cheer.
Answers (1)
New Questions in Business
On September 15, 2021, Oliver's Mortuary received a $3,600, nine-month note bearing interest at an annual rate of 14% from the estate of Jay Hendrix for services rendered. Oliver's has a December 31 year-end.
Answers (1)
The fixed-order quantity inventory model is more appropriate for important items such as critical repair parts because there is closer monitoring and therefore quicker response to a potential stockout. a) trueb) false
Answers (1)
Requiring segregation of duties in a business eliminates the need for the work of one employee to serve as a check on the work of other employees.
Answers (1)
At December 31, 2018, the following information was available for Deen Company: ending inventory $22,600; beginning inventory $21,400; cost of goods sold $171,000; and sales revenue $430,000.
Answers (1)
Software Solutions was hired by Jones Company on December 1 to install and updated software. The total entire amount of $1,800 in revenues is to be paid to us by Jones Company when the job is completed the following January 31.
Answers (1)
Home » Business » Value consists of: a. a product's performance characteristics and attributes for which customers are willing to pay. b. a product's proprietary characteristics and attributes for which customers are willing to pay. c.
Sign Up Forgot Password?