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) (C)</p> Signup and view all the answers

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