Question

Value can be defined as the difference between cost and benefit​

Answer 1

Value may also be expressed as a straightforward relationship between perceived benefits and perceived costs: Value = Benefits / Cost. The basic underlying concept of value in marketing is human needs. The basic human needs may include food, shelter, belonging, love, and self expression.

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Answer 2

Answer:

Value may also be expressed as a straightforward relationship between perceived benefits and perceived costs: Value = Benefits / Cost. The basic underlying concept of value in marketing is human needs. The basic human needs may include food, shelter, belonging, love, and self expression.