4.

0 CUSTOMER VALUE

The customer value concept is one of marketing theory’s basic elements. Identifying
and creating customer value (CV), understood as value for customers is regarded as an
essential prerequisite for future company success. Customer Value Research, based on
Customer Discovery Workshops and Interactive Value Modeling, is an ideal methodology to
use to gauge customer satisfaction where service improvement is necessary and where it is
vital to engage library staff in the change process that will result. For example, the American
Marketing Association recently revised its definition of “marketing” to encompass the notion
of customer value, and there have been important discussions in the literature about the
dominant logic in the field and over the central role customer value plays (American
Marketing Association, 2006; Vargo and Lusch, 2004).
There are many customer segments and all, if asked, will give slightly to vastly
different value elements. Therefore, it is most important to first identify these customer
segments. Then a choice is made, based on strategic decisions, as to which customer
segment or segments are engaged in the customer discovery research process. According
to Flint, Woodruff and Gardial, (1997), there are three forms of value which are personal
value, desired value and perceived value. The desired value means on what the customers
want to happen or being served with. Through the product, targeted customer are housewife
since they are the one who will probably use product for multipurpose household. Thus, in
this situation the customers expecting to receive a good product that meet their expectation
on helping them to complete household.
By identifying customers’ needs and wants, the product is expected to provide both
of them in a single product. A housewife usually need detergent, soap and varies types of
solution to complete different types of household. This eco-enzyme solution will definitely
meet customers’ need and also their wants because this product can help they reduce the
cost on unnecessary product. The product that can help consumer contributes to the health
of world and reduce pollution probably meet customers’ demand.
In cases where field value assessments are not feasible, it is possible to gain a
worthwhile understanding of value through such methods as direct and indirect survey
questions, conjoint analysis, and focus groups, all of which rely primarily on customers’
perceptions of the functionality, performance, and worth of a supplier’s offering. With a
comprehensive list of value elements in hand, the next step is obtaining initial estimates for
each element and finding out what each one is worth in monetary terms. Knowledge of how
their market offerings specifically deliver value to customers enables suppliers to craft
persuasive value propositions. At the core of all successful working relationships are two
essential characteristics: trust and commitment. To demonstrate their trustworthiness and
commitment to customers, progressive suppliers periodically provide evidence to customers of
their accomplishments.
There was a research conducted by Gao He. School of Management, Dalian
Jiaotong University on customer value (Research on the Measurement of Customer Value:
The Case of Cell Phone Industry). Through the empirical study, this study got two factors
which are the consumers’ preferences of value attributes for mobile phones, which are
“interest’s factor” and “cost factor”. The result of factor analysis showed that customer’s
perception of value mainly came from the trade-off of the costs and benefits. This is
consistent with the theory of Kotler’s customer delivered value. In a competitive industry,
customer value analysis product can serve as the cornerstone of companies' customer
retention strategy and strategic marketing management plan. Forward Analytics has utilized
the tools and metrics of customer value analysis for corporate clients, in all sectors of the
economy, including producers and suppliers of industrial, consumer and service products.
While similar in appearance to traditional customer satisfaction and image and
awareness studies, customer value analysis provides more accurate and useable
competitive information for marketing, planning and strategic positioning services. Built on
the idea that customers measure "value", and make business decisions, based on the
relationships of quality and price, Forward Analytics has designed a research methodology
that evaluates the relative importance of a complete set of factors (products, services,
relationships, image and PRICE) and the perceived performance of all competitors on those
factors. Through the application of our quantitative CVA research, it will help in identifying
the attributes that matter to your customers and the competitors' customers. It will also help
to show exactly how customers define these attributes. Directly, it will quantify the
company's performance and competitor's performance. Other than that, it will show which
competitors have superior value propositions and what can be done and reveals which
market players are poised to gain or lose market share.

American Marketing Association (2006): Dictionary of Marketing Terms.

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Gao, H. (2011). Research on the measurement of customer value based on competition-
oriented. Proceedings - 2011 4th International Conference on Information
Management, Innovation Management and Industrial Engineering, ICIII 2011, 2,
534–537. https://doi.org/10.1109/ICIII.2011.274
Graf, A., & Maas, P. (2008). Customer value from a customer perspective: A comprehensive
review. Journal Fur Betriebswirtschaft, 58(1), 1–20. https://doi.org/10.1007/s11301-
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Mcknight, S. (2009). Customers Value Research, 206–216.
https://doi.org/10.1515/9783598440229.206
Vargo S.L., Lusch R.F. (2004): Evolving to a New Dominant Logic for Marketing. Journal of
Marketing, Vol. 68, (January), pp. 1-17.