CUSTOMER

VALUE
 CUSTOMER VALUE MAY
MEAN LOW PRICE,
RECEIVING WHAT IS
DESIRED, RECEIVING
QUALITY FOR WHAT IS
PAID, OR RECEIVING
SOMETHING IN RETURN
FOR WHAT IS GIVEN.
 TWO ASPECTS TO CUSTOMER
VALUE

1. DESIRED VALUE - REFERS TO

WHAT CUSTOMERS DESIRE IN A
PRODUCT OR SERVICE.
2. PERCEIVED VALUE IS THE
BENEFIT THAT A CUSTOMER
BELIEVES HE OR SHE RECEIVED
FROM A PRODUCT AFTER IT
WAS PURCHASED.
WHAT CUSTOMERS PAY IS
NOT ONLY PRICE (CASH,
CHEQUE, INTEREST,
PAYMENT DURING USE
AS FUEL FOR A CAR) BUT
ALSO NON-PRICE TERMS
SUCH AS TIME, EFFORT,
ENERGY, AND
INCONVENIENCE.
 TIPS TO FOSTER CUSTOMER VALUE
1. GIVING A PRICE THAT MAKES THE
CUSTOMER BELIEVE HE IS GETTING
MORE THAN HE PAYS FOR THE
BENEFITS HE GET VERSUS
COMPETITIVE OFFERS.
2. REDUCING THE PRICE, OR KEEPING
THE SAME PRICE AND GIVING
SOMETHING EXTRA OVER COMPETITION
(THIS COULD BE SERVICE, BETTER
ATTENTION, AN ADD ON TO THE
PRODUCT)
3.MAKING IT CONVENIENT FOR THE
CUSTOMER TO BUY, AND HOW HE
WANTS TO BUY AND PAY.
4. FOR B2B GETTING A PROPER
PRICE JUSTIFICATION, NOT JUST A
PRICE.
5. FOR DEALERS, THE FEELING THE
COMPANY WILL GROW AND OFFER
NEW PRODUCTS FOR THE DEALERS
TO SELL. THESE ARE THINGS THAT
THE DEALER MAY NOT HAVE AN
EXPERIENCE OF, BUT
6. THE IMAGE OF THE COMPANY,
INCLUDING THE BRAND AND THE
TRUST IN THE COMPANY OR WHEN
THE CUSTOMER APPRECIATE THE
7. GIVING THE CUSTOMER A
PRODUCT THAT WORKS AS IF
IS MEANT TO (AS PERCEIVED
BY THE CUSTOMER) AND EASY
FOR HIM/HER TO UNDERSTAND
AND USE.
8. MAKING THE CUSTOMER
FEEL VALUED, FOR EXAMPLE:
1. SMILING AT AND BEING
ATTENTIVE TO A CUSTOMER
CREATES VALUE FOR HIM,
IGNORING HIM/HER DESTROYS
VLUE FOR THE CUSTOMER.
2. MAKING IT EASY FOR THE
CUSTOMER TO CONTACT THE
COMP., AND AN ASSURANCE THAT
AN ANSWER WILL BE GIVEN WHEN
PROMISED
3. NOT MAKING YOU REPEAT
QUESTIONS OR ANSWERS. AND
KEEP RELATING THE PROBLEM.
4. RECEIVING A CALL
FROM A SERVICE
PERSON CONFIRMING
HIS/HER VISIT.
5. NOT ANSWERING
QUERIES DESTROYS
VALUE.