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Chloe Xu
Director, Australia
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Marketers have generally spent much time and effort on the pricing side of the value equation (marketing mix), because it is the easier part. Given the psychological complexity and analytical difficulty, few studies have been done to understand what customers truly value, allowing companies to improve the value proposition of their brands / products.
Almquist, Senior and Bloch (2016) identified 30 ‘elements of value’ in 4 categories of customers' needs – functional, emotional, life changing, and social impact. These comprise the universal building blocks of value that customers normally appreciate. The survey conducted by the research team indicated that offering certain optimal combinations of value elements improve customer loyalty and as a result revenue growth and company performance.
Interestingly, the research also found three patterns of value creation worth of special notice:
SOME ELEMENTS MATTER MORE THAN OTHERS. Perceived quality is the king, and no other element (...) Read more? Sign up for free
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Jaap de Jonge
Editor, Netherlands
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Customer Value | Consumer Value
Thanks for sharing. I agree that customer or consu (...)
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S. Lago
Business Consultant, Canada
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Customer/Consumer Value and Service
An often forgotten aspect of customer value is cus (...)
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Marcel Wiedenbrugge
Consultant, Netherlands
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What is (Customer) Value and Why is it So Important?
In our book "Customer Profit Hacking" we describe (...)
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Norman Dragt
Netherlands
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Some Critical Remarks on the 30 Elements
I do wonder how they made this distinction between (...)
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Donny Le
Entrepreneur, United States
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It's Silly to Go After all 30
It turns out that by scoring high on MOST of those (...)
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CLAUDIUS RWODZI
HR Consultant, Zimbabwe
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Customer Value? Start with your Employees!
I tend to agree with @S. Lago on promoting a cultu (...)
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Norman Dragt
Netherlands
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Negative Customer Value
As this is just hear say, so I am not sure, but St (...)
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Chloe Xu
Director, Australia
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How to Measure and Manage your Customer Value
Customers are the key to any business and to creat (...)
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