Encyclopedia of Sustainable Management

Living Edition
| Editors: Samuel Idowu, René Schmidpeter, Nicholas Capaldi, Liangrong Zu, Mara Del Baldo, Rute Abreu

Customer Value Creation

  • Stefania VigniniEmail author
Living reference work entry
DOI: https://doi.org/10.1007/978-3-030-02006-4_885-1

Definition

The concept customer value has many meanings (Woodall 2003), but, from a marketing theory, two dominate: customer value refers to customers’ perceptions of what they receive and in return for what they sacrifice (Zeithaml 1988). The creation of customer value has long been recognized as a central concept in marketing (Woodruff 1997) and the fundamental basis for all marketing activity (Holbrook 1994). There are two aspects to customer value: desired value and perceived value (Woodruff 1997). Desired value refers to what a customer desires in a product or service. Perceived value is the benefit a customer believes he or she received from a product after it was purchased.

Anderson et al. (1997) define three kinds of customer value propositions: all benefits, favorable points of difference, and resonating focus. “All benefits” value propositions are based simply on listing the positive features and outcomes of buying and using the product or service.

A Customer Value Creation...

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References

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Copyright information

© Springer Nature Switzerland AG 2020

Authors and Affiliations

  1. 1.Department of ManagementUniversity of BologneBologneItaly

Section editors and affiliations

  • Kristijan Krač

There are no affiliations available