GENERAL KNOWLEDGE

Detailed explanation-1: -Some customers will seek value and low prices, while others seek top quality. Some marketers think there is a big difference between marketing for goods and services, and other marketers think that it’s the same whether you’re marketing sandwiches or hotels. Goods and services are totally distinct from each other.

Detailed explanation-2: -Customer-perceived value is thus based on the difference between benefits the customer gets and costs he or she assumes for different choices. The marketer can increase the value of the customer offering by raising economic, functional, or emotional benefits and/or reducing one or more costs.

Detailed explanation-3: -Customer-driven pricing is the practice of setting prices according to customers’ perceived value of a company’s goods or services.

Detailed explanation-4: -Which of the following is true of the House of Quality? it contains key selling points and features. In the context of quality function deployment, one of the first steps to build the House of Quality is to: identify the technical features of the design of the product.

Detailed explanation-5: -Which is a true statement about the diffusion-of-innovation theory? The late majority adopts new products before the early majority and approaches innovations eagerly.