We live in a society where everything is defined by its value. When it comes to taking Customer Centric Approach, Customer Value plays a vital role because by adding Customer Value, companies gain Competitive Advantage.
Customer Value is “the difference between what a customer gets from a product [or service], and what s/he has to give in order to get it”[1].
Here are five (5) factors that often determine the customer value proposition:
Ultimately what makes your Value proposition unique is your company’s ability to measure the customer value of your product/service. To measure this, you need to Measure the perceptions of the value added by your product or service in comparison to the perceptions of the value added by your competition.
Customer Value = Perceived worth of your product/service
Perceived worth of your competition
Are you ready to boost your Customer Value? Do you understand that added value can boost your Customer Centricity? Ready to Talk: Get in touch
[1] https://www.businessdictionary.com/definition/customer-value.html [accessed 28 January 2019].
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