Q&A. What Is Customer Value and How Do You Deliver It?

Abstract

could be implemented by an entrepreneur and they could showcase the technical support plan as a point of value that would resonate with the customer; instead of focusing on advantages that other competitors could also potentially deliver. Similarly, the third and fourth row of Table 1 could be used by entrepreneurs as a guideline to process customer value knowledge and anticipate changes in customer needs and improve existing value propositions. Conclusion Entrepreneurial firms focus their scarce resources on the dimensions of value (e.g., cost, use value, emotional value, social value) (Smith and Colgate, 2007; tinyurl.com/759o9j3) that most matter to customers and market their capabilities in terms that their customers can associate with and are known to value. However, delivering customer value is not a one-off event. Firms must continuously strive to better understand and anticipate what their customers will value and then keep delivering it. As Steve Jobs once said: " You can't just ask customers what they want and then try to give that to them. By the time you get it built, they'll want something new. " (tinyurl.com/c5n27g) Table 1. The customer value delivery process