Mastering Customer Value Analysis
Ensure your business strategy is robust and underpinned by a clear understanding of the Customer’s Value Proposition.
The team at Expert Toolkit have put together this concise guide for conducting Customer Value Analysis. Understanding how customers perceive benefit and how this varies by customer segment is critical to product pricing and overall marketing strategy development. In this guide you'll learn:
- The fundamentals of Customer Value Analysis - what it is and how to use it
- The relationship between Consumer Surplus and Customer Value Analysis
- Why the Customer Value Proposition is critical to any Business Strategy
- How to perform Customer Value Analysis
You'll get a step-by-step walkthrough of the 5 steps involved in performing Customer Value Analysis:
- Identification of a reference product
- Estimation of the lifecycle costs for each customer segment
- Estimation of the incremental benefits of the product
- Calculation of the value proposition for each customer segment
- Development of a customer value strategy
Each step includes the details for the various calculations involved in conducting a customer value analysis. You also learn key concepts such as price discretion and how to determine a product's maximum price. If it's one thing the team at Expert Toolkit see done incorrectly it's pricing strategy. Learn how to do Customer Value Analysis and you will know how to price products and services correctly!
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