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 behavior Step 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 pr...