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Chapter 10. Exceed Expectations with Value. Objectives. Define what constitutes A-plus value in the minds of customers Understand intrinsic and associated value which can affect a customer’s loyalty to you or your company
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Chapter 10 Exceed Expectations with Value
Objectives • Define what constitutes A-plus value in the minds of customers • Understand intrinsic and associated value which can affect a customer’s loyalty to you or your company • Apply seven categories of actions to enhance the customer’s perception of value
Define A + Value • Perceived value: • Subjective perception of the tradeoff between multiple benefits and sacrifices, relative to competition • People expect to get what they pay for.
Create an Enhanced Sense of Intrinsic and Associated Value Intrinsic Value Extrinsic Value Entire customer experience • Does the product meet the customers needs?
Seven Ways to Enhance the Perception of Value • Packaging • Guarantees/Warranties • Goodness of Product Fit • Memorable Experiences • Uniqueness and Shared Values • Credibility • Add-ons
A + Value and Your Employees • Apply the seven ways to your employees