Q70
The consumer’s estimate of the product’s overall capacity to satisfy his or her needs is called:
A.
Product Cost
B.
Product Value
AnswerC.
Product need
D.
Product Satisfaction
Answer: Option B
Solution
Answer: Option B
Solution:
The consumer’s estimate of the product’s overall capacity to satisfy his or her needs is called Product Value. Product value is the benefit that a customer gets by using a product to satisfy her needs minus associated costs.