Government Jobs Interview Questions
Which is more important – value of the customer or value to the customer?
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said this on 06 Jan 2010 10:35:46 PM IST
since in todays world where customers are considered as king, both is important i.e. value of the customer and value to the customer. every company are striving to give high value product to their customer to increase their market share and profitability. along with this they are also trying to make feel customer more delighted and try to maintain good relationship with them. as most of the survey shows that 1% retention of the loyal customers can lead to 50% increase in new customers.
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said this on 26 Jan 2010 11:01:56 PM IST
nice topic bt lack of good answers
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said this on 06 Feb 2010 10:00:27 PM IST
it is very difficult to take a stand of any one of the following as both are important for running a successful business. Value to the customers ensures good quality and that is the ultimate for any product to survive in the market. Unless customers are satisfied with their value for money they'll not opt for a long term relationship. again long term relation with a customer is equally important as 5 % customer retention can equal to sales generated by 70-80% new customers. it also reduces operational cost, costs of acquiring new sales... but still in certain cases value of the customer is more important. as for example in a service industry because of its heterogeneous nature it is not always possible to maintain a standard quality but because of good customer relation certain exceptions can be overlooked.
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said this on 19 Apr 2010 3:36:10 PM IST
according to me value of the customer is important.As it is necessary for the company to deliver value to the customer to exist in the competitive market but along with this it is also necessary to understand the value of the customers.
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said this on 26 Feb 2010 8:02:03 AM IST
hello
according to me value to customer is more important and value of customer comes automatically when you pay a value to customer .in todays market customer is the king and companies too are making product according to the taste of customer that simply means dey are paying value to the customers and dereby increasing the value of customer
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said this on 02 Mar 2010 11:41:06 PM IST
according to me value to customer is more important..in todays market customer is more important for the company.according to the taste of customer company manufactures the product that simply means they are paying value to the customers. and this increasing the value of customer
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said this on 09 Mar 2010 12:55:55 PM IST
customer is the king of 2days market so value to the customer is more important. if the organisation is able to provide good quality product and services to their customer obsly it wii increase the value of their customer. in otherwords both these concepts are mutually depending.
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said this on 15 Mar 2010 1:07:38 PM IST
as veryone says that todays market customer is considered as king....and i aslo agree wd that...so these two topic is really mutualy depended wd each other...value of customer means thinking of customer and make the product quality higher as much as possible while thinking of the product price...and in the case of long term relationship wd customer i would like to say that if customer gets nice quality product wd good behavior from the org or salesman the customer will alws be happy and wolling to make a good long term relationship....
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said this on 31 Mar 2010 12:54:17 AM IST
I am satisfied with the above comments that customer is a king of market and everything is depend on the customer who is paying for the purchase of any particular product...as per my view value of customer and value to customer is directly related to each other. if any manufacturing unit providing goods or services according to the taste or demand of the consumer which simply means that the customer is getting what they want...In other words the company is paying value to the customer and which increases the value of customer...datss it
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said this on 02 Apr 2010 2:29:10 PM IST
good
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said this on 16 Apr 2010 2:52:58 PM IST
both the attributes are important for a development of a healthy business.... but initially more the value you give for the customer the more he will be satisfied and he increases the value of investment in your business..... if initially the value for the customer is given the higher priority the business will not take a good start...
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said this on 12 Jun 2010 3:56:08 PM IST
Though both the attributes are important, however a combination of the two may differ at different stages of customer relationship. We can summarize it in two stages from a business perspective:
Acquiring Customer - At this stage, what is more important is to provide value for money to the customer. However, the customer should be provided with a reasonable amount of attention. Hence at this stage the ratio between the two will be 60:40 (Value to the Customer : Value of the customer)
Retaining Customer - In the world of cut-throat competition, this stage is all the more important. In order to retain existing customer, the business should make the customer feel special. The business should understand individual preferences, specially in service industry. Still continuing value to the customer is always a pre-requisite for a business to prosper. Hence at this stage the ration would be 40:60.
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said this on 27 Nov 2010 9:06:34 AM IST
i believe value to the customer is much more important than value of the customer. value of the customer is a derivative of value to the customer. if a company provides superior value to its end customer in terms of product quality, features, assortment,price and ease of access, the customer tends to be delighted with the product/service and only when the customer is delighted, feels that he gets the value for the money he spent and his perceived value is more than that of the expected value of the product, the customer tends to be loyal to the product/company/brand.
and only when a customer is loyal to a brand, makes repeated purchases and spreads a positive word of mouth about the brand the value of the customer increases because he gets the brand higher revenue in terms of the purchases he makes and the new customers he brings in.
this helps to create a long term relationship between the brand and the consumer which will ultimately be beneficial to the company as the company can cross sell its products and can sell the customer different assortment of goods through bundling which will enable the brand to make maximum profits and will help the brand turn down competitors attempt to attract its customers.
ultimately its about profit and market share.
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said this on 17 Jan 2011 10:13:12 AM IST
yes friends, i agree with u that if u r able to understand ur customer and make products accordingly, and succed in satisfy the customer u will win the game . no customer will go away from u if the basic problem get resolve, and relationship comes afterward when he is able to trust on u. but now in service industry the products are almost same in that situation u will have make extra efffort to retain them. make them feel as superiour.
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said this on 22 Jan 2011 1:22:05 PM IST
in tdys world cutmer is consider to b a king,both is imp i.e; value of the custmr n value 2 the custmer. there is cut-throat competition in the makt n company can only retain its posion if its able 2 maintain a balance betwen the 2.
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