Customer value

Name: Customer value
Brand: Quizplus
Rating: 4.8 (52 reviews)

Question

Customer value

Quizplus · Accepted Answer

Customer value is created when the benefits received by a customer exceed the costs incurred. The concept of customer value is important even in highly competitive markets. It is not the same thing as low price, as customer value involves both benefits and costs. Customer value affects a customer's relationship with a firm both before and after a sale, as customers will evaluate whether they received the expected benefits in relation to the costs they incurred.

Customer Value