No matter what product or service you provide, it is the customer who defines value. Hence, to succeed, it’s essential to see value from the customer’s perspective. If not, you will not understand the actual needs of the customer.(more…)
What are your products and services actually worth to customers? Not many organizations are able to answer this question, but it’s very important.
In fact, right now, with so many things changing in the way we live, the ability to understand the value of our product or service from the customer’s perspective has never been more important. And that’s where the value equation helps.
Value means the benefit the customer gets from our product or service compared to its cost to them. Put differently, it means benefit to cost ratio. (more…)