Neda Khazai 70372 - [email protected]
Tung Le Nguyen 70374 - [email protected]
Michelle Meadows 70386 - [email protected]
Alibina Mburu 70390 - [email protected]
Customer Value :The next source for competitive Advantage Woodruff
Source:Woodruff, customer value,1997Source:Woodruff, customer value,1997
Executive SummaryExecutive Summary The article elaborates on how companies need to find a competitiveadvantage to be able to compete in today’s competitive climate.The reasons for the intensified competitive market are for instance:•Global competition•slow growth economies•more demanding customers
Often companies look inward to be more efficient or productive. They usually try:•quality management •reengineering •downsizing•Re-structing
Woodruff proposes the companies would benefit by looking externally at the customers and try to find a way to position themselves so that they get a competitive advantage that is not just price.
Source:Woodruff, customer value,1997
Value: Value: the consumer’s overall assessment of the the consumer’s overall assessment of the utility of a product based on perceptions of what is utility of a product based on perceptions of what is received and what is given. (Zeithaml 1988,p.14)received and what is given. (Zeithaml 1988,p.14)
Customer Customer valuevalue : : the perspective of an the perspective of an organisation’s customers, considering what they organisation’s customers, considering what they want and believe that they get from buying and want and believe that they get from buying and using a seller’s product.using a seller’s product.
Source:Woodruff, customer value,1997
Customer ValueCustomer Value
To create a competitive advantage by looking at customer value a
company can use a customer value tool example.
Source:Woodruff, customer value,1997
Customer ValueCustomer Value
There are various ways to obtain customer value namely the hierarchy evaluation method that argues that the managers need to look beyond the so-called attributes-bases key buying criteria. For its how customers see value that influences what they do in the market place.
Source:Woodruff, customer value,1997
Customer value and customer Customer value and customer satisfaction satisfaction
This figure suggest how desired and received value fit into a disconfirmationThis figure suggest how desired and received value fit into a disconfirmation--type satisfaction modeltype satisfaction model
Source:Woodruff, customer value,1997
Customer Value DeterminationCustomer Value Determination
Source:Woodruff, customer value,1997
BarriersBarriers
.Organizational culture barriers.Organizational culture barriers
.Organizational procedural barriers.Organizational procedural barriers
.Managerial learning barriers..Managerial learning barriers.
Source:Woodruff, customer value,1997
ConclusionConclusion deciding how to compete on superior customer value delivery raises
difficult questions, such as the following.. What exactly do customers value. Of all the things the customers value, on which ones should we focus
to achieve advantage. . How well do customers think we deliver that value.. How will what customers value change in the future. managers must translate customer learning into superior Performance
with customers.
Source:Woodruff, customer value,1997
Source:Woodruff, customer value,1997