Answer to Question #166703 in Marketing for Sunny

Question

what is customer value ? how would you explain the concept of superior customer value? how is customer value related to a market driven strategy and to a company's success?

Answer 1

Customer value refers to the concept of what a service or a product is valued to the client against the possible choices. The value/worth is the benefits and the services against the money paid by the customer. Superior customer value refers the strategy that put the customers at the center by creating customer value, profitable relationship with customers and giving exceptional customer experience hence increasing lifespan value. Customer value is related to the market driven strategy and the success of the company since it ensure the satisfaction of the customer. Customers return to consume goods and services based on enhanced and quality service delivery.