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We discussed in class that the concepts of QUALITY and VALUE are very closely related. Which of the following best describes the relationship between quality

We discussed in class that the concepts of QUALITY and VALUE are very closely related. Which of the following best describes the relationship between quality and value?
Conceptually the two have the same meaning.
Quality relates to the price variable and value relates to the promotion variable of the marketing mix.
Value is an environmental force and quality is a marketing mix element.
Quality and value are NOT related.
Value is a function of quality after adding the price expectation.

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