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Green and Keegan (2019;2020) suggest that the essence of marketing worldwide is to surpass the competition in creating perceived value, which can be represented as: Value=Benefits/Price Value=Price/Benefits Value=Benefitstimes Price Value=Benefits - Price Value=Benefits+Price

Question

Green and Keegan (2019;2020) suggest that the
essence of marketing worldwide is to surpass the
competition in creating perceived value, which can
be represented as:
Value=Benefits/Price
Value=Price/Benefits
Value=Benefitstimes Price
Value=Benefits - Price
Value=Benefits+Price

Green and Keegan (2019;2020) suggest that the essence of marketing worldwide is to surpass the competition in creating perceived value, which can be represented as: Value=Benefits/Price Value=Price/Benefits Value=Benefitstimes Price Value=Benefits - Price Value=Benefits+Price

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MeganElite · Tutor for 8 years

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<p> A</p>

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<p> According to Green and Keegan, they interpret the essence of marketing in a way where value is looked upon as the ratio of the benefits derived from a product service bundle to the price that a consumer pays for it. The basic idea is that products or services provide certain benefits that customers value. They are willing to pay a price for these assessed or perceived benefits. Thus, value can be considered the ratio of benefits to price.</p>
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