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•asking customers in your target market what they're looking for when they do business with vendors
•determining how customers in your target market rate the value you provide relative to the value provided by your competitors
•deciding what changes on your part will have the greatest positive impact on customers' perception of the relative value of your offering
•aligning people and processes in a common focus to deliver value
•providing a consistent flow of data and information to keep them aligned
•winning with customers, with employees and with shareholders
Customer value management will help you accurately determine what drives value for customers, measure your performance relative to the competition, align efforts, focus scarce resources and create your sustainable competitive advantage.
Customer value is what the customer define as being of value to him/her regarding mu product(s)/service(s). We can understand it by asking customers to define it for us. We should then integrate those into our value stream and use these definitions to eliminate waste caused by our other definitions of value.
