CUSTOMER VALUE

Marketing experts Don Peppers and Martha Rogers says:

"the only value your company will ever create is the value that comes from customers - the ones you have now and the ones you will have in future. Businesses succeed by getting, keeping and growing customers. Customers are the only reason you build factories, hire employees, schedule meetings, lay fibre-optic lines, or engage in any business activity. Without customers, you don't have a business."

A customer would derive a would not derive functional benefits some additional benefit every time it buy the product. The following diagram shows what all consumer looks in a product when it intends to buy it.



So, a consumer buying Cornetto will look for a chilled dessert - the core benefit, he will see whether the price paid was equal to the worth. The consumer is looking for easy availability and that when he eat it he will enjoy the rich tastes and will be satisfied. They soon start relating brands, quality and adds an emotional connect with the moment they shared while sharing it with their friends. 

So, when I go and buy Cornetto, I will look at the services benefit, i.e. if it was well refrigerated or not, the taste was consistent and time and energy cost spent was not much.

But then there are people like me who had travelled 3 kms to just find a Cornetto, and really wanted to have one, as the retailer in my locality did not have Cornetto.

That is the value a marketer looks for. It only comes when the marketer understands every detail behind the consumer's mind. and what the customer expects from you.