2

Question 1

customer value = … - …

Answer 1

total benefits - total cost
benefits can be psychological, functional, emotional value
cost can be effort, time, money

Question 2

psychological value includes:

Answer 2

social impact, life changing, and emotional elements

Question 3

emotional / functional value includes:

Answer 3

functional and upstream elements

Question 4

psychological value can be divided into 2 types of needs:

Answer 4

deficiency - psychological, safety, love, belonging, social/self esteem
growth - self actualization and self transcendence

Question 5

self actualization =

self transcendence =

Answer 5

• achieving full potential

- altruism

Question 6

means-ends chain

Answer 6

structure that links consumers’ knowledge about product attributes with their knowledge about consequences and values
attributes -> consequences -> values

Question 7

3 components that make up perceived customer value are:

Answer 7

product value, supplier value, switching investments