Which of the following reflects the sum of perceived tangible and intangible benefits and costs to a customer?

Customer value reflects the sum of perceived tangible and intangible benefits and costs to a customer.

Explanation:

Customer Value is the perception of what a product or service is worth to a Customer versus the possible alternatives. Worth means whether the Customer feels s/he or he got benefits and services over what s/he paid. In a simplistic equation form, Customer Value is Benefits-Cost (CV=B-C).

1. Customer Satisfaction: 

• Customer satisfaction (often abbreviated as CSAT) is a term frequently used in marketing.
• It is a measure of how products and services supplied by a company meet or surpass customer expectation.
• Customer satisfaction is defined as "the number of customers, or percentage of total customers, whose reported experience with a firm, its products, or its services (ratings) exceeds specified satisfaction goals."

Customer Delight: 

• Customer delight is surprising a customer by exceeding his or her expectations and thus creating a positive emotional reaction.
• This emotional reaction leads to word of mouth.
• Customer delight directly affects the sales and profitability of a company as it helps to distinguish the company and its products and services from the competition. 

Customer Expectation: 

• By definition, customer expectations are any set of behaviors or actions that individuals anticipate when interacting with a company.
• Historically, customers have expected basics like quality service and fair pricing — but modern customers have much higher expectations, such as proactive service, personalized interactions, and connected experiences across channels.