Question

All of the following factors combine to help determine whether a vehicle is a value except: Low price. High quality. Level of style and fun. Both low price and high quality.

Answer 1

Answer:

Both low price and high quality.

Explanation:

The characteristics that make a product or service have a perceived value for the consumer, are the various functionalities and benefits that satisfy the needs and desires of the customer. Such benefits are independent of the price of the product or quality, since value is a set of rational or irrational attributes that the consumer perceives, such as the brand image, experience, functionality, product benefits, etc.

Value creation is variable for each consumer group, as each person perceives value as a set of specific attributes that satisfy their desires, so it is not possible to classify low price or high quality as value determinants, as these characteristics change according to the consumer's style.

Therefore, for a company to deliver value to the consumer, it is essential that it conducts segmentation studies and identification of its target audience and from there develop strategies aimed at creating value for its audience.