What Customers Truly Value? 30 Elements (Bain)

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What Customers Truly Value? 30 Elements (Bain)
Chloe Xu, Director, Australia, Premium Member
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. is the king, and no other elements can mak (...) Read more? Sign up for free

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Customer Satisfaction
Summary
Forum
What Customers Truly Value? 30 Elements (Bain)
What is (Customer) Utility? Meaning
🔥Customer Satisfaction Depends on Problem-Solving Efforts, not on Empathy
Best Practices
🥇Example FMCG and B2B business
🥈Overall Satisfaction in Customer Satisfaction Questionnaire?
🥉Alternate Methods to Measure Customer Satisfaction
What is Customer Satisfaction? Definitions
Assumptions of the Kano Model
How to Design a Generic Model Serving Unique Customers?
Sensemaking: What are your Customers' Needs? Really?
Software for Measuring Customer Satisfaction
C-U-S-T-O-M-E-R Service Dynamics in the New Economy
Customer Satisfaction and Competitive Advantage
How to Trigger Customer Satisfaction - Variables
Risks associated with Excitement Factor
Using Kano Model for Strategic Planning
Customer Emotions and Actions
Other Attributes of Features of a Product or Service
Customer Satisfaction as Research Driver
Research Software Development Industry?


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