As we move up the hierarchy, the product becomes more and more extended, moving from intangible to tangible and from nonphysical product to physical product.
Rationale: They move from tangible to intangible and physical to nonphysical

Customer-perceived value is defined as a customer's evaluation of the perceived difference between all the benefits and all the costs of a market offering relative to those of competing offers

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Earnings per share results from dividing earnings available for common stockholders by the number of shares of common stock authorized

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