Which of the following statements, made by marketing managers, illustrates an understanding of the concept of val customer ue?
a. "It's more important to acquire new customers than to retain old ones."
b. "The only time it's really necessary to demonstrate superior customer value is right before the actual sale."
c. "My main concern is with meeting this month's sales quota—I'll worry about relationship building later."
d. "I might think my product is a good value, but what really counts is if the customer thinks it's a good value."
e. "Customer value really boils down to which product is the least expensive."
Answer: d. "I might think my product is a good value, but what really counts is if the customer thinks it's a good value."