Customer-Centric Marketing Concepts

The difference between the consumer’s WTP and the actual price they pay (correct)

The difference between the consumer’s WTP and the cost of production

The difference between the consumer’s WTP and the market equilibrium price

The difference between the consumer’s WTP and the competitor's price

Total profit that a firm can expect to earn from a customer during the time of their relationship (correct)

Total market value of a customer's lifetime purchases

Total revenue generated from a customer over a specific period

Total cost incurred in acquiring and retaining a customer over their lifetime

Loss incurred when customers are not satisfied with a product's quality

Loss of economic efficiency caused by the mismatch between demand and supply (correct)

Loss due to overproduction beyond market demand

Loss resulting from price discrimination strategies

<p>To target the customer’s perception of the product's value (V)</p> Signup and view all the answers

<p>By analyzing changes in customer base over time</p> Signup and view all the answers