In marketing, what do the terms VALUE, COST, and SATISFACTION mean?

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OyhrBprna

Business Finance

Description

What do the terms VALUE, COST, and SATISFACTION mean in the field of marketing? Please provide a quick explanation of each. Thank you!

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Explanation & Answer

Value, cost, and satisfaction are three core principles of marketing. Each term may be defined as follows:Value: This represents the relationship between the level of customer satisfaction and the cost to acqui...


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