tag:blogger.com,1999:blog-5822238157430691095.post3105194633665706674..comments2024-02-25T18:21:12.610-05:00Comments on Customer Value in the Now Economy: What is Customer Value and How Can You Create It? by Gautam Mahajan * [41]Art Weinsteinhttp://www.blogger.com/profile/05011519859160178160noreply@blogger.comBlogger43125tag:blogger.com,1999:blog-5822238157430691095.post-61147556727902478242024-02-02T23:52:10.762-05:002024-02-02T23:52:10.762-05:00This blog article explores the many meanings of &q...This blog article explores the many meanings of "value," ranging from cost to value and worth. It explores the concept's complexity. It highlights how crucial it is to define value precisely, particularly when using technical terminology like "Customer Value," in order to guarantee comprehension and clarity. The post offers insights into the elements driving customer decisions and the distinction between consumers and customers by offering a framework for defining Customer Value as the sense of worth in relation to alternatives. It also discusses how value is created by combining systems, culture, and attitude, emphasizing the part these elements play in providing outstanding customer experiences.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5822238157430691095.post-15623518918014466632024-02-02T23:28:02.746-05:002024-02-02T23:28:02.746-05:00This article truly touches on how customer value c...This article truly touches on how customer value can be established and benefit businesses. It allows for the development of loyalty towards that product and company, creating a bond like no other. The overall experiences and benefits a customer can obtain through the company with courtesy and kindess while guiding them through the buying process when needed is helpful.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5822238157430691095.post-49405194349187866962024-02-02T23:26:49.011-05:002024-02-02T23:26:49.011-05:00The article provides a comprehensive exploration o...The article provides a comprehensive exploration of the multifaceted concept of value, distinguishing between its various meanings, especially when applied in a technical context like Customer Value. The equation CV=B-C captures the theme, emphasizing that customer value is determined by perceived benefits relative to costs, which extend beyond monetary means to include time, effort, energy, and inconvenience. The practical insights on creating real value, such as understanding customer perceptions, offering competitive advantages, and prioritizing customer experience, contribute valuable guidance for businesses aiming to enhance customer satisfaction and loyalty.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5822238157430691095.post-3702882573026141282024-02-02T23:25:42.230-05:002024-02-02T23:25:42.230-05:00I enjoyed reading this article. I like how it star...I enjoyed reading this article. I like how it started with the definition of the word "value," as this made it clear on what its meaning is in the content of marketing and consumers. I also really like the author's step-by-step analysis of the different factors regarding customer value/ satisfaction as it gave a great breakdown and analysis. As someone who has experience on both ends, I strongly believe customer service is very important and can add value to any product a customer may be considering to purchase. It can sometimes be the reason why a customer is loyal to a company or product, or maybe grow a dislike for a company and product. I also am a strong believer in making sure ease of use is present when a customer is purchasing a product, as, from personal experience, I can relate to how likely I am to purchase a product or service based off of how easily I can understand how to use it, and how it can help me. The reflective questions at the end are also nice, as it helps relate the article to the reader's experiences. Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5822238157430691095.post-9075412630011507802024-02-02T22:23:17.888-05:002024-02-02T22:23:17.888-05:00
I appreciate your comprehensive and insightful ex...<br />I appreciate your comprehensive and insightful exploration of the concept of value, particularly in the context of Customer Value. Your breakdown of the various meanings and interpretations of value, as well as the distinction between consumers and customers, provides a solid foundation for discussing how businesses can create and enhance value.Brenidanoreply@blogger.comtag:blogger.com,1999:blog-5822238157430691095.post-22161780417396087962024-02-02T22:07:58.160-05:002024-02-02T22:07:58.160-05:00I enjoyed reading this post about customer value b...I enjoyed reading this post about customer value because it helped me understand customer perceptions differently. I recently began a new job as a social media specialist and I want to ensure I am satisfying viewers and engaging with them. I want our followers and clients to feel like they are valued, and vice versa. Although our services are not priced or for monetary gain; therefore, the price aspect of value does not apply, we do offer quality service and ensure that customer perceptions are going well.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5822238157430691095.post-44441908225231980862024-02-02T16:04:54.619-05:002024-02-02T16:04:54.619-05:00I like how the article goes into depth on what val...I like how the article goes into depth on what value truly is and when applied how it can benefit a business. The value of customer service as well as the value of a product is crucial and can mean the difference between a customer staying loyal or a customer scouting out another company for better. I believe that in my line of work I provide immense value to the company so I can relate to what the author is talking about when distinguishing the different kinds of value. I appreciate the author giving someone who is in an employee or a member of management a list of ways to bring forth value to the customers. Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5822238157430691095.post-71184252156043909182024-02-02T14:36:53.777-05:002024-02-02T14:36:53.777-05:00I admire how you began the article with the differ...I admire how you began the article with the different meanings of value, whether it's the price of something that creates value or the benefit of something that comes with value. My initial thought goes to the price of an item or how much its worth, but this article really expanded the meaning of value to me!Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5822238157430691095.post-48076676468366713692024-02-02T13:08:20.147-05:002024-02-02T13:08:20.147-05:00It's critical to understand the difference bet...It's critical to understand the difference between cost and value as well as the significance of accuracy when using technical phrases like "customer value." The focus on generating pleasant experiences, comprehending client perspectives, and methodically resolving issues deepens the conversation. A great read for anyone trying to improve their connections with customers and provide value to their products over time.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5822238157430691095.post-26119010880872019952024-01-31T13:16:38.099-05:002024-01-31T13:16:38.099-05:00The article gave me a deeper perspective on value ...The article gave me a deeper perspective on value and how value looks different for everyone. Value is significant regarding customer satisfaction and feeling the customer's needs. The article discusses how value constantly changes for customers; using what customers consider valuable continuously evolves over time. Using this information to utilize customer feedback will help companies stay updated with the customer's needs and what they value as valuable. Using feedback from consumer reviews will help companies compete with competitors while better satisfying their target market. Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5822238157430691095.post-1306696379733272252024-01-29T17:45:33.268-05:002024-01-29T17:45:33.268-05:00I found your article very interesting and insightf...I found your article very interesting and insightful, as the word "value" can have various meanings and could be understood differently by certain people. I gained knowledge on the different meanings of the word and how value is seen in customer service and the importance in it. I found that the examples given on how to show value were the most important, as it allowed me to keep some in mind for future use.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5822238157430691095.post-31705931584414755992023-11-03T23:06:09.172-04:002023-11-03T23:06:09.172-04:00As a entreprenuer learning to create customer valu...As a entreprenuer learning to create customer value, one must understand the concept of what customers perceive as valuable and how their needs evolve over time. Reading this has helped me learn it's essential to gather customer feedback and recognize what's important to them in their buying decisions. This involves factors like pricing, benefits, and convenience, as well as building trust and portraying a positive company image, which can all contribute to creating value for the customer.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5822238157430691095.post-46204212513297571722023-11-03T21:57:55.454-04:002023-11-03T21:57:55.454-04:00To create value for your customer, it's crucia...To create value for your customer, it's crucial to start by thoroughly understanding their unique needs and preferences. This lays the foundation for offering products or services that provide clear benefits and advantages. Additionally, providing exceptional customer service, including timely responses and assistance, goes a long way in building trust and loyalty. Offering competitive pricing or unexpected perks that surpass customer expectations can also significantly enhance perceived value. Moreover, actively seeking and incorporating customer feedback into your offerings shows a commitment to continuous improvement. On the other hand, potential value destruction can occur through poor quality products or services, inattentive or unresponsive customer service, inconsistencies in pricing or service delivery, and a lack of transparency or honesty in business practices. Beyond individual experiences, recognizing and solving recurring customer problems on a systemic level demonstrates a proactive approach to value creation, benefiting a broader customer base.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5822238157430691095.post-11654430453207783102023-11-03T20:28:03.608-04:002023-11-03T20:28:03.608-04:00I think that the blog's goal—which is to preci...I think that the blog's goal—which is to precisely and thoroughly detail the various facets of Value and its traits that pertain to both consumers and customers—is comparable to a customer's mental blueprint, which business owners can utilize as a guide. The author's emphasis on value, which can encompass more than just financial rewards to the client, was highly praiseworthy. It is equally crucial to recognize and educate ourselves about the other contributing aspects.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5822238157430691095.post-18116515106980030532023-11-03T11:31:08.072-04:002023-11-03T11:31:08.072-04:00Reading your article I gained a better understandi...Reading your article I gained a better understanding of what customer value is and how it can benefit the customers and the service. You mention how the customer is not just always paying a price it could also be paying time or energy as well. The benefits also have many different factors to it towards the customer, not all customers are the same so they can each be gaining different benefits. After reading your article I definitely have a more detailed perspective on customer value in today's economy. Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5822238157430691095.post-35545022166952729462023-11-02T08:29:49.308-04:002023-11-02T08:29:49.308-04:00I like how you highlighted the simplest way of exp...I like how you highlighted the simplest way of expressing customer value by CV= Benefits- Costs. Made everything very clear and easy to read. Learning how to increase customer value is very beneficial for the success of a company. Maria Asimopoulounoreply@blogger.comtag:blogger.com,1999:blog-5822238157430691095.post-31894501052563522852023-09-22T20:03:02.165-04:002023-09-22T20:03:02.165-04:00Customer value is created based on their mindset, ...Customer value is created based on their mindset, culture and experience. In order to capitalize on these different aspects, businesses must asses their demographics and trends from consumers and customers. It is detrimental that feedback and consumer behavior is analyzed to figure out the value of a product and how to increase it. This will also help business build brand loyalty and be able to adjust their marketing and distribution of goods.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5822238157430691095.post-70757948327204008112023-09-22T18:15:58.996-04:002023-09-22T18:15:58.996-04:00Reading this article really brought clarity to how...Reading this article really brought clarity to how to win over a customer. I was able to see different elements that go into what a customer pays for and aside from the product itself, the consumer also pays for time, energy, effort, and inconvenience. This is important when trying to win over a customer because every company wants loyal clientele/customers so you do this by making the customer feel valued and earning their trust into believing your product is better than any on the market. Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5822238157430691095.post-74016944679852040712023-09-22T16:12:39.386-04:002023-09-22T16:12:39.386-04:00Customer Value seems very minor but also is very i...Customer Value seems very minor but also is very important, and can be very confusing. After reading this blog not only did I learn what customer value is but also how it relates to the author and possibly other people. I've learned that the customer pays for the value of the product, because of how the product benefits the customer. Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5822238157430691095.post-46430344515339023072023-09-21T12:26:36.210-04:002023-09-21T12:26:36.210-04:00This article on customer value creation was both t...This article on customer value creation was both thorough and insightful. Understanding that customer value is best defined as benefits minus the costs involved to acquire and use products or services, it is also evident that customer value changes from one individual or user to the next to some extent. Likewise, the description of the “waterfall of needs” describing how customer value changes throughout the customer journey further highlights the dynamic nature of customer value. That being said, it seems critical that companies engage customers regularly to attain input and feedback. Information about each step of the customer journey should be collected since this will identify potential areas where customer value can be enhanced. These pursuits as well as consistency, respect for customers, and attentiveness to needs will help build trust and brand loyalty as efforts to increase value occur. Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5822238157430691095.post-38124152782932132102023-09-21T11:47:16.951-04:002023-09-21T11:47:16.951-04:00To create Value for my Customer, I could focus on ...To create Value for my Customer, I could focus on understanding their needs and expectations from my product/service and strive to exceed those expectations. Regular feedback sessions and surveys can prove useful in gaining insights into these areas.<br /> I completely concur that problem-solving for customers needs to be done in a systematic manner rather than just on an individual basis. It's crucial to recognize common problems and put remedies into place that can stop them from happening again. By preventing recurring and similar problems, preventative actions frequently offer long-term value and save resources.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5822238157430691095.post-62736623015161602023-04-07T23:44:27.824-04:002023-04-07T23:44:27.824-04:00This article helped me in making key distinctions ...This article helped me in making key distinctions between certain keywords such as consumers, customers, and non-customers. By viewing and understanding these differences I am able to understand and learn what value is, how it is created, and what it does. The article was also very insightful in showing the breakdown of customer value and how the “value” of a product or service itself is so much more than general production cost.Jaden R.noreply@blogger.comtag:blogger.com,1999:blog-5822238157430691095.post-23165098414890475652023-04-07T23:02:51.075-04:002023-04-07T23:02:51.075-04:00Increasing customer value is crucial to a successf...Increasing customer value is crucial to a successful company. I like how you highlighted how companies can create real value for their customers by offering competitive prices, providing excellent service, and being attentive to customer needs.Clayton Haggitnoreply@blogger.comtag:blogger.com,1999:blog-5822238157430691095.post-1745549558043271932023-04-07T22:40:22.132-04:002023-04-07T22:40:22.132-04:00This is a pretty great article about the importanc...This is a pretty great article about the importance of customer loyalty and how to gain and maintain an audience. The life blood of a company is have returning customers, "Customer is Cash", and having a consistent cash flow for investment. Some of Marketing and Business is people pleasing.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5822238157430691095.post-76807835133015066512023-04-07T22:25:16.556-04:002023-04-07T22:25:16.556-04:00To add to customer value, companies need to focus ...To add to customer value, companies need to focus on delivering superior benefits to customers while minimizing the costs that customers incur. The examples that Mr. Mahajan includes in this post can help a business thrive and keep customers happy.Anonymousnoreply@blogger.com