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Explain - Customer delivered value, Total customer value, Total customer cost.Customer delivered value
The term marketing does not revolve around fulfilling the needs of a consumer alone but also includes the value that the consumer is deriving from the use of the said product or service. This value is arrived at by subtracting what the product cost a consumer(total customer cost) from the benefits derived by him from the product (Total customer value).
Total customer value
The sum total of all the benefits (Product value ,service value, personnel value, Image value) that a customer derives from a product or a service is termed as the total customer value . In other words these are the benefits that the vendor or seller provides in return of the associated payments received from a customer.
Total customer cost
The total cost incurred by a customer in the process of evaluating what he wants to buy, buying a product, using it and ultimately disposing it of is termed as total customer cost. (monetary,time,energy,psychic)
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