Thewedding

In: Business and Management

Submitted By jwlawson
Words 1262
Pages 6
The Value of a Customer
Jackie Lawson
MAN/331
Independence University
Instructor: Roger Williard
October 31, 2015

The Value of a Customer
Most customers want a company who cannot only do the job as per the job description but who will go beyond the call of duty and put in 110% effort at all times. This may mean adding more time with each individual customer insuring that their needs where meet. Whether you choose to go that extra mile for your customer is up to you, but generally those companies who work that bit harder than the rest, are the ones who get the loyal customer, therefore, adding value to your company. Developing Customer value is a benefit that each customer will get from a product or service in comparison with its cost. This has been measured in monetary terms, for example, when a product helps save the customer money that could have been spent on something else. “The term "customer value" should not be confused with the value of customers to businesses” (Wise Geek). A product or service can provide value in many ways as long as it refers only to the value that the customers receive, not to how valuable customers are. Not only does using value let the customer save money customer it can also save the consumer time by providing a benefit that may not been obtained without the product or increase the value of something the customer already owns. “Businesses of all sizes use customer value as part of a greater analysis to determine how well they are serving their customer base” (Wise Geek).There are several organizations that have taken on the concept of making their companies focus on “customer value” first such as Cheers Auto, PetCo, Enviro-log. When David and Randall founded Cheers Auto, they had the idea that they wanted a business with a “neighborhood auto repair facility that you, the customer, would feel…...

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