The personal value equation refers to: how much a consumer feels a particular pr

Question

The personal value equation refers to:

how much a consumer feels a particular product is worth.

the combination of price and the benefits the customer hopes to receive from his purchase.

the relationship between the price of the product and how difficult it is to purchase the product versus the benefits the customer hopes to receive.

The combination of the brand equity of the product, the degree to which the product is discounted, the number of competing products and the effort the consumer needs to purchase the product.

Explanation / Answer

The personal value equation of a customer = Benefits received - (Price + Hassle)

Therefore, the personal value equation refers to the relationship between the price of a product and how difficult it is to purchase the product versus the benefits the customer hopes to receive.

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