In planning its market offering, the marketer must address the five product levels of the customer value hierarchy. Describe the "customer value hierarchy," and identify the five levels of product contained within. Provide examples.© BrainMass Inc. brainmass.com March 4, 2021, 11:51 pm ad1c9bdddf
Customer Value Hierarchy is described as a system that is used in businesses as a means of determining their customers' satisfaction. This happens in order for businesses to increase their sales as well as make profits. A customer value is the customer's perceived preference for and evaluation of the product's attributes, attributes performances and the use of the block in achieving the customer's goals and purposes in use situations. It can also be said to be the satisfaction that a consumer feels after making a purchase of a good or service relating to what one must give in order to receive them (Definition of Customer, 2012).
There are five levels of a product that a marketer has to think through which together ...
The solution discusses customer value hierarchy.