What Is and How to Use Customer Value
Customer Value measures and tells us why Customers buy, and why she* rebuys or will buy more and from whom. It looks at the benefits a Customer gets versus what it costs her for the product or service she buys. If the Customer perceives she gets more benefits than what she paid (total cost in price and non-price terms), value is created for her. And when she goes to buy, she compares the value created by competing products or services, and buys from the company she perceives is creating the most value for her in this competitive world.
Companies are in business only because they have or can find Customers who buy from them. Companies get and retain Customers by creating value for them. The value ...
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