Customer Value Articles
Developing a Customer Value Proposition
In today’s challenging market environment, it is imperative to provide the customer with superior value. Providing more for less is what today’s customers expect, if not demand.
Companies are aware of the importance of delivering customer value, but come unstuck when deciding what value is and whether it is being delivered to the customer.
A Customer Value Proposition is a statement of the end benefits customers can expect from a product or service at a given cost of obtaining those benefits. Customer value can be defined in many ways, but ultimately it is what the customer perceives it to be.
Survive the slowdown by building brand loyalty
Harvard Business School Professor, John Quelch says “Instead of cutting the market research budget, you need to know more than ever how consumers are redefining value and responding to the recession.” He also states further that “successful companies do not abandon their marketing strategies in a recession; they adapt them.”
Many organisations simply examine the sales forecasts and cut spending across the board during a period of economic slowdown without considering how these cuts will impact on communication. Companies that do not ‘speak’ to their customers during recession times disengage them and find themselves vulnerable once the economy has regained momentum.