I felt I needed to post this and get the comments rolling. Here is my take on customer value:
While value can be summarized as “what a customer would be willing to pay for”, the notion of value-added products or services surpasses that. It’s important to understand the customer’s point of view and remember that:
- Value implies there is continuous process and quality improvement with upstream feedback loop to the executive team as well as to the marketing and engineering teams
- Value is described as lead-time reduction and on-time delivery
- Value includes open communication and responsiveness between our customers and ourselves
- Value implies ease of doing business with us
Do Your Customers Agree With What You Think Customer Value Is?
If you’re rusty on QFD.