Which one is Important- Value of the customer or Value to the customer?
By sach143_u
@sach143_u (859)
India
August 16, 2010 3:01pm CST
Friends according to my view it is very difficult to take a stand of any one of the following as both are important for running a successful business. Value to the customers ensures good quality and that is the ultimate for any product to survive in the market. Unless customers are satisfied with their value for money they'll not opt for a long term relationship. Again long term relation with a customer is equally important as 5 % customer retention can equal to sales generated by 70-80% new customers. It also reduces operational cost, costs of acquiring new sales. But still in certain cases value of the customer is more important. as for example in a service industry because of its heterogeneous nature it is not always possible to maintain a standard quality but because of good customer relation certain exceptions can be overlooked. According to you which one is Important?
1 person likes this
1 response
@mamacathie (3928)
• United States
16 Aug 10
Of course, value to the customer is important but I feel there are many like me that are willing to pay a bit more if they are treated with value themselves. The way a business treats me will determine whether I return or not. If the business treats me like a person and not a number and not rushing me and like I am the only customer they have and like I am making them money, then I am more apt to visit their business even if they are a bit higher than the place that rushes me and acts like they are sorry I ever darted in their doors.
