Some points on importance of customer value in marketing are:
- Customer value in marketing is important because it guides purchase decisions and determines customer retention over time.
- Customer value represents the perceived balance between benefits received and costs paid by the customer.
- Higher perceived customer value increases the likelihood that customers choose one offering over competing alternatives.
- Customers compare value propositions before purchase to decide which product or service best meets their needs.
- Clear customer value helps customers justify their purchase decisions based on usefulness, quality, and price.
- Customer value influences retention by shaping customer satisfaction after product or service consumption.
- When customers perceive consistent value, they are more likely to continue buying from the same brand.
- Sustained customer value reduces switching behavior by reinforcing preference for an existing offering.
- A decline in perceived customer value often leads to reduced repeat purchases and customer loss.