MyMarketingLab with Pearson eText -- Access Card -- for Marketing: An Introduction
MyMarketingLab with Pearson eText -- Access Card -- for Marketing: An Introduction
13th Edition
ISBN: 9780134132358
Author: Gary Armstrong, Philip Kotler
Publisher: PEARSON
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Textbook Question
Chapter 9, Problem 1ALC
  • An earlier example states that although the average Steinway piano costs $87,000, to those who own one. a Steinway is a great value. Does this fit your idea of value?
Expert Solution & Answer
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Summary Introduction

To discuss: Whether the idea of Person X fits his value

Introduction:

The variation between what a customer obtains from a product and what the customer has to give in order to get it known as the customer value.

Explanation of Solution

Given example:

The average cost of purchasing The Piano S is $87,000 and this piano is of a great value.

Explanation:

Person X finds that cost of purchasing the Piano S is $87,000. Person X states that this product is of a great value because it is a handcrafted product and the higher cost always results in a higher quality.

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