Marketing Reading: Creating Customer Value

Format:Print
| Language:English

Abstract

This Reading explores how firms can create value for their customers. The goal of any business is to delight customers by understanding its customers' needs and to provide products and services to meet those needs. As a result, it is critical to understand what customers value and how firms can offer products and services by creating different types of value for their customers. The purpose of this Reading is to help students understand customers' perspectives on what they value and why. The Reading describes four types of customer value—economic, functional, experiential/psychological, and social. A supplemental Reading looks at how to manage customer expectations.