BUAD 332 Exam 1 Questions and Correct Answers 2026/2027

BUAD 332 Exam 1 Questions and Correct Answers 2026/2027 Customer value - Correct Answer the customers perception of what they want to have happen in a specific use situation, with the help of a product or service, in order to accomplish a desired purpose or goal. customer satisfaction customer value - Correct Answer = performance =importance 5 key aspects of customer value - Correct Answer 1. tradeoff of benefits and sacrifices 2. interaction of both customer and product 3. Relative to competitors, individuals, and situations 4. goal driven by customers desired attributes, desired outcomes, and need goals 5. Dynamic- in that it changes overtime Value judgement - Correct Answer the way that customers make judgment about value. Customer gains (value hierarchy) - Correct Answer - positive (benefits) and negative (sacrifices) effects ON the customer... aka customers world vs. - ANYTHING firm controls (product attributes-physical product/service)...aka marketers world What makes customer's perception of value change? - Correct Answer - the environment (economy, trends) - consumers: life changes changes from other companies