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Questions and Answers
What is the definition of 'value' in marketing?
What is the definition of 'value' in marketing?
- The amount of money a consumer pays for a product
- The comparison between benefits received from a product against the costs incurred (correct)
- The amount of profit a company makes from selling a product
- The amount of money spent on marketing and distribution of a product
What percentage of the cost of a product does marketing and distribution take up?
What percentage of the cost of a product does marketing and distribution take up?
- 25%
- 50% (correct)
- 75%
- 100%
Why might someone be willing to spend more money on a beef burger from 'My Burger' than on a shami burger?
Why might someone be willing to spend more money on a beef burger from 'My Burger' than on a shami burger?
- Because the person values the beef burger from 'My Burger' more (correct)
- Because the beef burger has more calories
- Because the beef burger has a fancier name
- Because the shami burger is not as tasty
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