What Customers Truly Value? 30 Elements (Bain)

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Chloe Xu
Director, Australia
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

  Jaap de Jonge
Editor, Netherlands
 

Customer Value | Consumer Value

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  S. Lago
Business Consultant, Canada
 

Customer/Consumer Value and Service

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  Marcel Wiedenbrugge
Consultant, Netherlands
 

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  Norman Dragt
Netherlands
 

Some Critical Remarks on the 30 Elements

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  Donny Le
Entrepreneur, United States
 

It's Silly to Go After all 30

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  CLAUDIUS RWODZI
HR Consultant, Zimbabwe
 

Customer Value? Start with your Employees!

I tend to agree with @S. Lago on promoting a cultu (...)

  Norman Dragt
Netherlands
 

Negative Customer Value

As this is just hear say, so I am not sure, but St (...)

  Chloe Xu
Director, Australia
 

How to Measure and Manage your Customer Value

Customers are the key to any business and to creat (...)

 

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