Importance of customer value in today's competitive business market

Title: Importance of customer value in today's competitive business market
Category: /Business & Economy/Marketing and Advertising
Details: Words: 685 | Pages: 2 (approximately 235 words/page)
Importance of customer value in today's competitive business market
        Building and preserving customer value is essential in the new organizational structure taking place in the health-care industry. As businesses and consumers move forward, businesses are being measured more and more by the value they create for their customers. Customer value is the focus of the article "Customer Value & Business Success in the 21st Century." Customer value is defined as how a business values customers and how customers value a business's products or services.         …showed first 75 words of 685 total…
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…showed last 75 words of 685 total…be developed for each market segment. Grouping by needs and expectations will allow an organization to establish relationship with customers by specifically tailoring services to each segment. Development of these service models will increase customer loyalty that will also increase profits and revenue.         Customer value puts the customer in the center of each process of expectation audits (understanding the customer), service models (niche customization), service innovation (understanding customer expectations), and strategic communication (communicating with customers).         

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