Customer Value

Customer value refers to the overall benefit a customer receives from a product or service compared to what they give up to obtain it. It involves factors like quality, price, convenience, and experience. Essentially, it’s about how well a product or service meets a customer’s needs and expectations relative to its cost. When customers perceive high value, they feel satisfied and are more likely to stay loyal. Businesses aim to enhance customer value by offering better quality, competitive pricing, and positive interactions, leading to mutual satisfaction and long-term relationships.