1. Customer-perceived value is best defined as:
A. The financial cost of producing a product
B. The difference between total customer benefits and total customer costs
C. The actual retail price paid by the customer
D. The promotional activities aimed at customers
Answer: B

2. Which of the following is NOT considered a customer benefit in determining customer-perceived value?
A. Product benefit
B. Service benefit
C. Monetary price
D. Image benefit
Answer: C

3. The perceived sacrifice made by customers primarily includes:
A. Service quality
B. Product design
C. Monetary cost and non-monetary costs
D. Brand equity
Answer: C

4. The value proposition of a company refers to:
A. How much profit the company makes per product
B. The promise of value delivered to customers
C. The product’s manufacturing process
D. The company’s financial stability
Answer: B

5. The concept of customer-perceived value is crucial because it:
A. Helps in minimizing promotional costs
B. Determines customer loyalty and satisfaction
C. Simplifies inventory management
D. Ensures maximum production efficiency
Answer: B

6. Total customer benefits include all EXCEPT:
A. Economic benefits
B. Functional benefits
C. Psychological benefits
D. Logistics costs
Answer: D

7. The customer’s perception of value is influenced significantly by:
A. Competitors’ pricing
B. Customer expectations and experience
C. Company’s internal cost structure
D. Advertising expenses alone
Answer: B

8. Customer-perceived value is primarily a measure from whose viewpoint?
A. Company executives
B. Competitors
C. Customers
D. Market analysts
Answer: C

9. A higher customer-perceived value typically leads to:
A. Reduced customer loyalty
B. Increased customer retention
C. Lower pricing capability
D. Higher operational risks
Answer: B

10. Which cost is NOT usually considered part of total customer cost?
A. Time cost
B. Energy cost
C. Psychic cost
D. Supplier profit margins
Answer: D

11. The difference between total customer benefits and total customer cost is known as:
A. Customer satisfaction
B. Customer value
C. Net profit
D. Market share
Answer: B

12. Companies that consistently deliver high customer-perceived value often benefit from:
A. Short-term profits only
B. Increased customer referrals and positive word-of-mouth
C. Reduced market share
D. Lower customer expectations
Answer: B

13. Customer-perceived value assessments typically compare:
A. Prices among competitors only
B. Benefits and costs relative to competing offers
C. Advertising effectiveness
D. Internal employee satisfaction
Answer: B

14. What kind of customer cost includes the customer’s emotional effort and mental stress?
A. Monetary cost
B. Psychological cost
C. Functional cost
D. Social cost
Answer: B

15. When perceived benefits exceed customer expectations, customers typically experience:
A. Dissatisfaction
B. Customer delight
C. Brand confusion
D. Price sensitivity
Answer: B

16. Companies can improve customer-perceived value primarily by:
A. Increasing promotional messages
B. Reducing the price without improving benefits
C. Enhancing benefits or reducing perceived costs
D. Decreasing customer service interactions
Answer: C

17. The term “value delivery system” refers to:
A. The product pricing method
B. The entire process involved in delivering customer value
C. The advertising channel selection
D. Competitor analysis techniques
Answer: B

18. In value analysis, what is a critical step to understanding perceived value?
A. Evaluating only internal product specifications
B. Assessing competitors’ marketing strategies
C. Conducting customer surveys and feedback
D. Reducing production costs
Answer: C

19. Which element significantly shapes customer-perceived value?
A. Internal company efficiency
B. Customer service quality
C. Company size
D. Organizational structure
Answer: B

20. To communicate value effectively, marketers should primarily focus on:
A. Product manufacturing details
B. Highlighting benefits most valued by customers
C. Internal profit margins
D. Competitors’ weaknesses
Answer: B

21. Customer-perceived value can vary due to differences in:
A. Customer characteristics and preferences
B. Product packaging color alone
C. Distribution channel complexity
D. Market share size
Answer: A

22. Companies measure customer-perceived value mainly to:
A. Increase immediate profits
B. Understand and manage customer expectations and experiences
C. Decrease marketing investments
D. Simplify product offerings
Answer: B

23. The role of customer-perceived value in price-setting strategies involves:
A. Charging the lowest possible price
B. Pricing based on perceived worth rather than just costs
C. Pricing purely on competitors’ rates
D. Ignoring customer feedback
Answer: B

24. In the marketing concept of value, perceived benefits must:
A. Equal perceived costs exactly
B. Significantly outweigh perceived costs
C. Be less important than perceived costs
D. Only focus on monetary value
Answer: B

25. Companies delivering lower perceived value compared to competitors are likely to experience:
A. Increased customer retention
B. Decreased customer loyalty
C. Higher market share
D. Greater profitability
Answer: B

26. Which method is typically used by companies to enhance perceived benefits?
A. Reducing product quality
B. Offering superior customer service and support
C. Decreasing promotional activities
D. Increasing product prices without adding value
Answer: B

27. Perceived value is most closely associated with the marketing concept of:
A. Customer orientation
B. Production orientation
C. Selling orientation
D. Financial orientation
Answer: A

28. Customer-perceived value typically drives which type of customer behavior?
A. Single-time purchases
B. Brand-switching behavior
C. Repeat purchases and loyalty
D. Reduced product usage
Answer: C

29. An effective way to measure customer-perceived value includes analyzing:
A. Employee satisfaction levels
B. Competitors’ financial statements
C. Customer satisfaction and loyalty metrics
D. Internal operational efficiency
Answer: C

30. Which strategy is critical in enhancing long-term customer-perceived value?
A. Minimizing customer interaction
B. Constantly exceeding customer expectations
C. Aggressive discounting
D. Reducing marketing communications
Answer: B