Customer-perceived value Essay Example | Topics and Well Written Essays - 1000 words

Customer-perceived value - Essay Example Customer-perceived value Thus marketers should really work hard so as not only to attract customers, but also retain them by providing the maximum customer perceived value. For instance, Nike which is a well-known brand, endorsed Michael Jordan who is a professional NBA player and came up with a unique line of shoes known as Air Jordan(s).Thus Nike seems to know all too well the importance of developing customer-perceived value that is strong. Eventually all the publicity about the unique line of Air Jordans together with limited edition of Jordans, are all consumer-perceived. Thus such a product is perceived to be having more benefits than the one offered by its competitors making consumers more willing to pay the hiked price so as to get it (Gale & Wood, 1994). Total customer satisfaction is the ability of a product or a service to satisfy the needs of a customer. It is clear that when a business taxes expands or grows more market share than its competitors, the company should focus on the needs of satisfying the customer. Moreover, ensuring that the customers’ needs are met should be a fundamental goal of any business. Customer satisfaction is thus a term constantly used in marketing and is a measure of how services and products that a company supplies meets or surpasses customer expectations.. It is mostly taken as major performance indicator in business and mostly is an aspect of a Balanced Scorecard. Customer satisfaction is taken as a main differentiator in competitive marketplace where companies are in competition for customers and has progressively become a core aspect of business strategy. It is therefore very important for enterprises to efficiently deal with customer satisfaction.