Showing posts with the label CVM

Customer Value Maximization: Management and Cycle

What is customer value maximization? customer value is based on a customer relationship quality as experienced from the sides of both the customer and the marketer. value is created by products and services when they benefit customers by satisfying their needs. it is a function of cash flow profitability and customer service.

The following five-step model is used for creating and managing customer value.

Customer Value Maximization - Customer Value Management Model
Step 1 discover understand customer needs and behaviorStep 2 commit: commit toward delivering value to customers Step 3 create: create customer value Step 4 assess: obtain customer feedback and analyze it Step 5 improve: measure and improve customer value
The customer value management or CRM model aims to create value for customers and suppliers. customer value is generated through superior products and services that provide a benefit that is recognized through the payment of an agreed-upon price. value accrues to a suppl…