Customer Value

Customer value is the amount of benefits which customers get from purchasing products and services. It can also defined as the difference between the values customer gains from using a product and cost of the product. Customer value is high if the customer gains more benefits as compared to the cost of product and services and customer value is low if the customer gains less benefits as compared to the product and services cost.

For Example,

Customer value of Dell laptops and computers are high in view of its customers. Dell products quality, efficiency, brand, delivery and after sale service are the benefits for buyers and definitely it pays more than cost of the product and services.

Customer Satisfaction

Human always build some expectation in their mind about person, place product, services and etc. In marketing, buyer has expectation with the product which he or she going to purchase. The buyer expectations about product(s) comes from marketing, word of mouth or brand reputation.

Buyer will be satisfied if the product meets or exceed expectations. Buyer will be dissatisfied if the product does not meet the expectation which buyer set in his mind before buying it.

Total Quality Management

Customer value and satisfaction directly linked with the quality of products and services. In recent years organizations are focusing on quality to increase customer satisfaction. Total quality management is the set of continuous programs designed to improve the quality product,services and marketing processes.

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