Customer Perceived Value (CPV) - Revision history

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User: /* See Also */

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 == See Also ==
-[[Customer]]<br />
+Customer Perceived Value (CPV) is the evaluation by a customer of the worth of a product or service based on what is received (benefits) versus what is given up (costs) to acquire and use it. This perception significantly influences buying decisions, brand loyalty, and customer satisfaction. CPV is not solely determined by price but includes intangible factors such as brand prestige, customer service experience, and personal relevance. Businesses aim to enhance CPV by improving product quality, offering exceptional service, and creating emotional connections, all while managing costs.
-[[Customer Acquisition Cost (CAC)]]<br />
-[[Customer Centricity]]<br />
+*[[Value Proposition]]: Discussing the promise of value to be delivered and a belief from the customer that value will be experienced. A strong value proposition is crucial for creating high customer perceived value.
-[[Customer Churn]]<br />
+*[[Brand Equity]]: Covering the value premium that a company generates from a product with a recognizable name when compared to a generic equivalent. Brand equity can significantly influence CPV by enhancing the perceived benefits of a product or service.
-[[Customer Data Integration (CDI)]]<br />
+*Price Sensitivity: Discussing how the price of a product or service influences the customer's buying behavior. Price sensitivity is closely related to customer perceived value, as perceptions of value affect how price changes impact demand.
-[[Customer Data Management (CDM)]]<br />
+*[[Customer Satisfaction]]: Explaining the degree to which a product or service meets or surpasses customer expectations. Customer satisfaction is often a direct outcome of high customer perceived value.
-[[Customer Demographics]]<br />
+*[[Customer Experience (CX)]]: Discussing the total journey of a customer's interactions with a brand. Enhancing CX is a strategy for increasing CPV by ensuring all touchpoints contribute positively to the perceived value.
-[[Customer Due Diligence (CDD)]]<br />
+*Service Quality: Covering the customers' perception of how well a service meets or exceeds their expectations. Service quality is a key determinant of CPV, especially in service-oriented industries.
-[[Customer Dynamics]]<br />
+*[[Total Cost of Ownership (TCO)]]: Explaining all the direct and indirect costs associated with acquiring, using, and disposing of a product or service. TCO is a consideration in the customer's assessment of CPV.
-[[Customer Effort Score (CES)]]<br />
+*[[Customer Loyalty]]: Discussing the outcome of sustained CPV, where satisfied customers demonstrate repeat purchasing behavior and loyalty to a brand or company.
-[[Customer Engagement]]<br />
+*[[Market Segmentation]]: Covering the process of dividing a broad consumer or business market into sub-groups of consumers based on shared characteristics. Understanding different segments allows businesses to tailor CPV strategies to meet diverse customer needs.
-[[Customer Engagement Hub (CEH)]]<br />
+*Product Differentiation: Discussing the process of distinguishing a product or service from others to make it more attractive to a particular target market. Differentiation can enhance CPV by increasing the perceived benefits.
-[[Customer Experience Management (CEM)]]<br />
+*Emotional Branding: Explaining the practice of building brands that appeal directly to a customer's emotional state, needs, and aspirations. Emotional connections can significantly elevate CPV.
-[[Customer Lifecycle]]<br />
+*Consumer Behavior: Covering the study of individuals, groups, or organizations and the processes they use to select, secure, use, and dispose of products, services, experiences, or ideas to satisfy needs and the impacts that these processes have on the consumer and society.

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-[[Business]] Dictionary defines Customer Perceived [[Value]] (CPV) as "the anticipated benefit from a consumer's perspective of a [[product]] or [[service]]." The customer perceived value stems from tangible, psychological and social advantages, and since it affects [[demand]] for a product, it needs to be taken into account when setting prices.<ref>Defining Customer Perceived Value (CPV) [http://www.businessdictionary.com/definition/customer-perceived-value.html Business Dictionary]</ref>
+Business Dictionary defines Customer Perceived Value (CPV) as "the anticipated benefit from a consumer's perspective of a product or service." The customer perceived value stems from tangible, psychological and social advantages, and since it affects demand for a product, it needs to be taken into account when setting prices.<ref>Defining Customer Perceived Value (CPV) [http://www.businessdictionary.com/definition/customer-perceived-value.html Business Dictionary]</ref>
-Customer perceived value is a concept widely used in [[marketing]] and [[branding]] circles. Customer perceived value is the notion that the success of a product or service is largely based on whether customers believe it can satisfy their wants and needs. In other words, when a company develops its [[brand]] and markets its products, customers ultimately determine how to interpret and react to marketing messages. Companies spend significant time researching the [[market]] to get a sense of how customers think and feel. Customer perceived value is the notion that the success of a product or service your business offers hinges on whether customers believe it can satisfy their wants and needs.<ref>What is Customer Perceived Value (CPV) [https://smallbusiness.chron.com/customer-perceived-value-23692.html Chron]</ref>
+Customer perceived value is a concept widely used in marketing and branding circles. Customer perceived value is the notion that the success of a product or service is largely based on whether customers believe it can satisfy their wants and needs. In other words, when a company develops its brand and markets its products, customers ultimately determine how to interpret and react to marketing messages. Companies spend significant time researching the market to get a sense of how customers think and feel. Customer perceived value is the notion that the success of a product or service your business offers hinges on whether customers believe it can satisfy their wants and needs.<ref>What is Customer Perceived Value (CPV) [https://smallbusiness.chron.com/customer-perceived-value-23692.html Chron]</ref>
-Customer Perceived Value is the evaluated value that a customer perceives to obtain by buying a product. It is the difference between the total obtained benefits according to the customer [[perception]] and the cost that he had to pay for that. Customer perceived value is seen in terms of satisfaction of needs a product or service can offer to a potential customer. The customer will buy the same product again only if he perceives to be getting some value out of the product. Hence delivering this value becomes the motto of marketers.<br />
+Customer Perceived Value is the evaluated value that a customer perceives to obtain by buying a product. It is the difference between the total obtained benefits according to the customer perception and the cost that he had to pay for that. Customer perceived value is seen in terms of satisfaction of needs a product or service can offer to a potential customer. The customer will buy the same product again only if he perceives to be getting some value out of the product. Hence delivering this value becomes the motto of marketers.<br />
 '''Customer Perceived Value = Total Perceived Benefits – Total Perceived Costs'''<br />
-The CPV is kind of an [[evaluation]] done by customer on what value a product or a service would be able to provide if he/she buys it by paying money.<ref>Understanding Customer Perceived Value (CPV) [https://www.mbaskool.com/business-concepts/marketing-and-strategy-terms/1812-customer-perceived-value.html MBA Skool]</ref>
+The CPV is kind of an evaluation done by customer on what value a product or a service would be able to provide if he/she buys it by paying money.<ref>Understanding Customer Perceived Value (CPV) [https://www.mbaskool.com/business-concepts/marketing-and-strategy-terms/1812-customer-perceived-value.html MBA Skool]</ref>
 [[File:Customer_Perceived_Value.jpg|200px|Customer Perceived Value (CPV)]]<br />

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-Business Dictionary defines Customer Perceived Value (CPV) as "the anticipated benefit from a consumer's perspective of a product or service." The customer perceived value stems from tangible, psychological and social advantages, and since it affects demand for a product, it needs to be taken into account when setting prices.<ref>Defining Customer Perceived Value (CPV) [http://www.businessdictionary.com/definition/customer-perceived-value.html Business Dictionary]</ref>
+[[Business]] Dictionary defines Customer Perceived [[Value]] (CPV) as "the anticipated benefit from a consumer's perspective of a [[product]] or [[service]]." The customer perceived value stems from tangible, psychological and social advantages, and since it affects [[demand]] for a product, it needs to be taken into account when setting prices.<ref>Defining Customer Perceived Value (CPV) [http://www.businessdictionary.com/definition/customer-perceived-value.html Business Dictionary]</ref>
-Customer perceived value is a concept widely used in marketing and branding circles. Customer perceived value is the notion that the success of a product or service is largely based on whether customers believe it can satisfy their wants and needs. In other words, when a company develops its brand and markets its products, customers ultimately determine how to interpret and react to marketing messages. Companies spend significant time researching the market to get a sense of how customers think and feel. Customer perceived value is the notion that the success of a product or service your business offers hinges on whether customers believe it can satisfy their wants and needs.<ref>What is Customer Perceived Value (CPV) [https://smallbusiness.chron.com/customer-perceived-value-23692.html Chron]</ref>
+Customer perceived value is a concept widely used in [[marketing]] and [[branding]] circles. Customer perceived value is the notion that the success of a product or service is largely based on whether customers believe it can satisfy their wants and needs. In other words, when a company develops its [[brand]] and markets its products, customers ultimately determine how to interpret and react to marketing messages. Companies spend significant time researching the [[market]] to get a sense of how customers think and feel. Customer perceived value is the notion that the success of a product or service your business offers hinges on whether customers believe it can satisfy their wants and needs.<ref>What is Customer Perceived Value (CPV) [https://smallbusiness.chron.com/customer-perceived-value-23692.html Chron]</ref>
-Customer Perceived Value is the evaluated value that a customer perceives to obtain by buying a product. It is the difference between the total obtained benefits according to the customer perception and the cost that he had to pay for that. Customer perceived value is seen in terms of satisfaction of needs a product or service can offer to a potential customer. The customer will buy the same product again only if he perceives to be getting some value out of the product. Hence delivering this value becomes the motto of marketers.<br />
+Customer Perceived Value is the evaluated value that a customer perceives to obtain by buying a product. It is the difference between the total obtained benefits according to the customer [[perception]] and the cost that he had to pay for that. Customer perceived value is seen in terms of satisfaction of needs a product or service can offer to a potential customer. The customer will buy the same product again only if he perceives to be getting some value out of the product. Hence delivering this value becomes the motto of marketers.<br />
 '''Customer Perceived Value = Total Perceived Benefits – Total Perceived Costs'''<br />
-The CPV is kind of an evaluation done by customer on what value a product or a service would be able to provide if he/she buys it by paying money.<ref>Understanding Customer Perceived Value (CPV) [https://www.mbaskool.com/business-concepts/marketing-and-strategy-terms/1812-customer-perceived-value.html MBA Skool]</ref>
+The CPV is kind of an [[evaluation]] done by customer on what value a product or a service would be able to provide if he/she buys it by paying money.<ref>Understanding Customer Perceived Value (CPV) [https://www.mbaskool.com/business-concepts/marketing-and-strategy-terms/1812-customer-perceived-value.html MBA Skool]</ref>
 [[File:Customer_Perceived_Value.jpg|200px|Customer Perceived Value (CPV)]]<br />

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 [[Customer Relationship Management (CRM)]]<br />
 [[Stakeholder]]
 == References ==
 <references/>

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 [[Customer Needs]]<br />
 [[Customer Psychographics]]<br />
 [[Customer Service]]<br />
 [[Customer Service Management]]<br />
 [[Customer Relationship Management (CRM)]]<br />
 [[Stakeholder]]
 == References ==

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 Further Reading
 *Applications of Customer Perceived Value (CPV) in the Indsutries [https://consumerbehaviorgroup9.wordpress.com/2015/07/19/applications-of-customer-perceived-value-cpv-in-the-indsutries/ ConsumerBehaviorGroup9]
 *Customer Perceived Value: Understanding What Appeals to the Consumer [https://aircall.io/blog/customer-happiness/customer-perceived-value/ Gina Winsky]

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	== References ==		== References ==
	<references/>		<references/>
		+
		+
		+	Further Reading
		+	*Applications of Customer Perceived Value (CPV) in the Indsutries [https://consumerbehaviorgroup9.wordpress.com/2015/07/19/applications-of-customer-perceived-value-cpv-in-the-indsutries/ ConsumerBehaviorGroup9]
		+	*Customer Perceived Value: Understanding What Appeals to the Consumer [https://aircall.io/blog/customer-happiness/customer-perceived-value/ Gina Winsky]

← Older revision		Revision as of 19:01, 10 October 2019
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	Customer perceived value is a concept widely used in marketing and branding circles. Customer perceived value is the notion that the success of a product or service is largely based on whether customers believe it can satisfy their wants and needs. In other words, when a company develops its brand and markets its products, customers ultimately determine how to interpret and react to marketing messages. Companies spend significant time researching the market to get a sense of how customers think and feel. Customer perceived value is the notion that the success of a product or service your business offers hinges on whether customers believe it can satisfy their wants and needs.<ref>What is Customer Perceived Value (CPV) [https://smallbusiness.chron.com/customer-perceived-value-23692.html Chron]</ref>		Customer perceived value is a concept widely used in marketing and branding circles. Customer perceived value is the notion that the success of a product or service is largely based on whether customers believe it can satisfy their wants and needs. In other words, when a company develops its brand and markets its products, customers ultimately determine how to interpret and react to marketing messages. Companies spend significant time researching the market to get a sense of how customers think and feel. Customer perceived value is the notion that the success of a product or service your business offers hinges on whether customers believe it can satisfy their wants and needs.<ref>What is Customer Perceived Value (CPV) [https://smallbusiness.chron.com/customer-perceived-value-23692.html Chron]</ref>
		+
		+	Customer Perceived Value is the evaluated value that a customer perceives to obtain by buying a product. It is the difference between the total obtained benefits according to the customer perception and the cost that he had to pay for that. Customer perceived value is seen in terms of satisfaction of needs a product or service can offer to a potential customer. The customer will buy the same product again only if he perceives to be getting some value out of the product. Hence delivering this value becomes the motto of marketers.<br />
		+	'''Customer Perceived Value = Total Perceived Benefits – Total Perceived Costs'''<br />
		+	The CPV is kind of an evaluation done by customer on what value a product or a service would be able to provide if he/she buys it by paying money.<ref>Understanding Customer Perceived Value (CPV) [https://www.mbaskool.com/business-concepts/marketing-and-strategy-terms/1812-customer-perceived-value.html MBA Skool]</ref>
		+
		+	[[File:Customer_Perceived_Value.jpg\|200px\|Customer Perceived Value (CPV)]]
		+	source: [https://www.marketing91.com/customer-perceived-value-cpv/ Marketing91]