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Business Strategy and Accounting Basics

In the 4Cs, which reinterpret the 4Ps of the marketing mix from the customer's viewpoint, which corresponds to "Price" in the 4Ps?

  1. ACustomer value
  2. BConvenience
  3. CCustomer cost
Show answer and explanation

Answer: C. Customer cost

The 4Ps are a framework for combining four elements from the seller's viewpoint: product, price, place (distribution) and promotion. The 4Cs reinterpret these from the buyer's viewpoint: customer value corresponds to product, customer cost to price, convenience to place, and communication to promotion. Customer cost includes not only the price but also the effort and time needed to buy and adopt the product.

  • A. This corresponds to Product in the 4Ps.
  • B. This corresponds to Place (distribution) in the 4Ps.
  • C. Correct. It is what the customer bears, including not only the price but also the effort and time of adoption.
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