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Questions and Answers
What is the customer - Value hierarchy used for in marketing?
What is the customer - Value hierarchy used for in marketing?
- To measure customer satisfaction with the product range
- To identify the different levels of value perceived by the customer (correct)
- To analyze the production levels of different products
- To determine the cost of products for the customer
How does the customer - Value hierarchy benefit marketing strategies?
How does the customer - Value hierarchy benefit marketing strategies?
- By determining the geographical distribution of products
- By reducing the production costs for different product levels
- By enabling the creation of products that align with customer preferences (correct)
- By increasing the advertising budget for popular products
Which of the following best describes the purpose of understanding Product levels in marketing?
Which of the following best describes the purpose of understanding Product levels in marketing?
- To calculate the profit margins for different products
- To develop effective product strategies based on customer perception (correct)
- To assess the popularity of different products in the market
- To estimate the production costs for various product levels
