Creating Customer Value

What is Customer Value?

Customer value is the measurement of the product or service's worth, as perceived by customers, compared to the customer's alternate options. In other words, we can say that the customer value is perceived benefits divided by the cost. 

Creating Customer Value

If we look at the customer value as the perceived benefits divided by the cost, then there are two ways to increase the customer value:

1. Increase the perceived benefits

2. Decrease the cost

How to increase perceived benefits?

1. By listen to the customer

2. By providing a better quality product

3. By providing a safer and more reliable product

4. Providing the product or service faster

5. Higher brand reputation

6. Segregate customers and understand the unique requirements of different segments

7. Evaluate and analyze the customer experience of the product or service being offered.



Customers served! 1

Quality Management Course

FREE! Subscribe to get 52 weekly lessons. Every week you get an email that explains a quality concept, provides you with the study resources, test quizzes, tips and special discounts on our other e-learning courses.

Similar Posts:

February 4, 2020

Interrelationship Digraph for the Root Cause of Poor Quality

March 6, 2021

Quality Gurus Photos

January 14, 2022

Course Selector

May 1, 2022

5 Tips To Ensure Compliance With Standard Operating Procedures (SOPs)

March 31, 2018

4 Types of Team Roles

31 Courses on SALE. Join 200,000+ Existing Students.