A company’s job is to create superior customer value in the mind of the customer. Be aware that the customer’s sense of value may differ from the company’s sense of value. A customer is interested in more than the physical product. The customer also pays attention to the service level, guaranties and warranties, financing arrangements, return policies — all making up the total product. The challenge is to help the customer perceive more total value than the total cost of acquisition and usage.
- customer journey
- customer value
- total product
ASJC Scopus subject areas
- Business and International Management
- Business, Management and Accounting (miscellaneous)