BUAD 332 EXAM 1 2025/2026 Exam
Questions and Answers | 100% Pass
customer value - 🧠 ANSWER ✔✔the customer's 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
we define customer value from a _____ perspective, NOT from a _____
perspective - 🧠 ANSWER ✔✔customer / product
customer value = - 🧠 ANSWER ✔✔IMPORTANCE
satisfaction - 🧠 ANSWER ✔✔is about falling short or exceeding
expectations
EX: can you be more satisfied at a Motel 6 rather than a Ritz Carlton?
customer satisfaction = - 🧠 ANSWER ✔✔PERFORMANCE
5 key aspects of customer value - 🧠 ANSWER ✔✔1. TRADEOFF of
benefits and sacrifices
2. INTERACTION of both customer and product
COPYRIGHT©PROFFKERRYMARTIN 2025/2026. YEAR PUBLISHED 2025. COMPANY REGISTRATION NUMBER: 619652435. TERMS OF USE.
PRIVACY STATEMENT. ALL RIGHTS RESERVED 1
,3. RELATIVE to competitors, individuals, and situations
4. GOAL-DRIVEN by customer's desired attributes, desired outcomes, and
goals
5. DYNAMIC - changes overtime
equation for customer value tradeoff - 🧠 ANSWER ✔✔(what i get / benefits)
- (what i give up / sacrifices) = X
-customer's objective is to maximize X for themselves among perceived
alternatives
benefits - 🧠 ANSWER ✔✔"what i get" is hopefully "what i seek"
sacrifices - 🧠 ANSWER ✔✔"what i give up"
why is it REALLY hard to understand and compete on customer value? - 🧠
ANSWER ✔✔it always changes
what makes customer's perceptions of value change? (3) - 🧠 ANSWER
✔✔1. the environment (economy, trends, etc.)
2. consumers: life changes
COPYRIGHT©PROFFKERRYMARTIN 2025/2026. YEAR PUBLISHED 2025. COMPANY REGISTRATION NUMBER: 619652435. TERMS OF USE.
PRIVACY STATEMENT. ALL RIGHTS RESERVED 2
, 3. changes from other companies
what does a customer value oriented firm look like? (4) - 🧠 ANSWER ✔✔1.
a "customer value culture"
2. commitment to innovation
3. organize everything we do as a company around delivering Customer
Value
4. continuous learning about customers
customer value learning comes from many sources. takes many forms: (3)
- 🧠 ANSWER ✔✔1. value hierarchies
2. value maps
3. other analytical tools
customer value strategy process: 5 steps - 🧠 ANSWER ✔✔1. identify the
value
2. choose the value
3. provide the value
4. communicate the value
5. assess the delivered value
COPYRIGHT©PROFFKERRYMARTIN 2025/2026. YEAR PUBLISHED 2025. COMPANY REGISTRATION NUMBER: 619652435. TERMS OF USE.
PRIVACY STATEMENT. ALL RIGHTS RESERVED 3
Questions and Answers | 100% Pass
customer value - 🧠 ANSWER ✔✔the customer's 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
we define customer value from a _____ perspective, NOT from a _____
perspective - 🧠 ANSWER ✔✔customer / product
customer value = - 🧠 ANSWER ✔✔IMPORTANCE
satisfaction - 🧠 ANSWER ✔✔is about falling short or exceeding
expectations
EX: can you be more satisfied at a Motel 6 rather than a Ritz Carlton?
customer satisfaction = - 🧠 ANSWER ✔✔PERFORMANCE
5 key aspects of customer value - 🧠 ANSWER ✔✔1. TRADEOFF of
benefits and sacrifices
2. INTERACTION of both customer and product
COPYRIGHT©PROFFKERRYMARTIN 2025/2026. YEAR PUBLISHED 2025. COMPANY REGISTRATION NUMBER: 619652435. TERMS OF USE.
PRIVACY STATEMENT. ALL RIGHTS RESERVED 1
,3. RELATIVE to competitors, individuals, and situations
4. GOAL-DRIVEN by customer's desired attributes, desired outcomes, and
goals
5. DYNAMIC - changes overtime
equation for customer value tradeoff - 🧠 ANSWER ✔✔(what i get / benefits)
- (what i give up / sacrifices) = X
-customer's objective is to maximize X for themselves among perceived
alternatives
benefits - 🧠 ANSWER ✔✔"what i get" is hopefully "what i seek"
sacrifices - 🧠 ANSWER ✔✔"what i give up"
why is it REALLY hard to understand and compete on customer value? - 🧠
ANSWER ✔✔it always changes
what makes customer's perceptions of value change? (3) - 🧠 ANSWER
✔✔1. the environment (economy, trends, etc.)
2. consumers: life changes
COPYRIGHT©PROFFKERRYMARTIN 2025/2026. YEAR PUBLISHED 2025. COMPANY REGISTRATION NUMBER: 619652435. TERMS OF USE.
PRIVACY STATEMENT. ALL RIGHTS RESERVED 2
, 3. changes from other companies
what does a customer value oriented firm look like? (4) - 🧠 ANSWER ✔✔1.
a "customer value culture"
2. commitment to innovation
3. organize everything we do as a company around delivering Customer
Value
4. continuous learning about customers
customer value learning comes from many sources. takes many forms: (3)
- 🧠 ANSWER ✔✔1. value hierarchies
2. value maps
3. other analytical tools
customer value strategy process: 5 steps - 🧠 ANSWER ✔✔1. identify the
value
2. choose the value
3. provide the value
4. communicate the value
5. assess the delivered value
COPYRIGHT©PROFFKERRYMARTIN 2025/2026. YEAR PUBLISHED 2025. COMPANY REGISTRATION NUMBER: 619652435. TERMS OF USE.
PRIVACY STATEMENT. ALL RIGHTS RESERVED 3
