Which of the following statements are true in context of customer value and satisfaction concept?

(A) Value perceptions increase with quality, service and price

(B) Customer value triad is primarily a combination of quality, service and price

(C) Marketing is the identification, creation, communication, delivery and monitoring of customers value

(D) If the perceived performance of the product matches with perceived expectations, the customer is delighted

(E) Satisfaction reflects a person's judgement of a product's perceived performance in relation to expectations

Choose the correct answer from the options given below

This question was previously asked in
UGC NET Paper 2: Management 29 Oct 2022 Shift 2
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  1. (A), (B) and (C) only
  2. (B), (C) and (D) only
  3. (B), (C) and (E) only
  4. (A), (D) and (E) only

Answer (Detailed Solution Below)

Option 3 : (B), (C) and (E) only
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UGC NET Paper 1: Held on 21st August 2024 Shift 1
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Detailed Solution

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The correct option is 

(B) Customer value triad is primarily a combination of quality, service, and price

(C) Marketing is the identification, creation, communication, delivery, and monitoring of customers' value

(E) Satisfaction reflects a person's judgement of a product's perceived performance in relation to expectations

Key Points

Customer value

  •  Customer value is the benefit that the customer gets from a product in comparing its cost 
  • organization has a strong focus on customer value will form a sustainable competitive advantage.
  • customer is valuing a product based on how their requirement is met by the product and they compare the cost incurred for the same with their value.

Customer satisfaction

  • Customer satisfaction is nothing but the reflection that how the customer satisfaction with the product 
  • if the product meets the requirement of the customers and they are happy with its usage bans are considered customer satisfaction
  • customer satisfaction achieving not only from sales but also from after-sales services.Eg-product which required service during their lifetime such as electric products.

Hence the correct answer is 

(B) Customer value triad is primarily a combination of quality, service, and price

(C) Marketing is the identification, creation, communication, delivery, and monitoring of customers' value

(E) Satisfaction reflects a person's judgement of a product's perceived performance in relation to expectations

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Last updated on Jun 6, 2025

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