Mastering Marketing Strategy

Value is a ratio of benefits to costs, as viewed from the eyes of the beholder (the customer).

The four major types of utility are: form utility, time utility, place utility, and ownership utility.

A value proposition is the firm's communication of the unique value of its products to its customers.

<p>Costs may be financial, time, opportunity costs, or otherwise.</p> Signup and view all the answers

<p>The value message may include the whole bundle of benefits the company promises to deliver - not just the benefits of the product itself.</p> Signup and view all the answers