Tuesday, July 22, 2008

Customer Delivered Value and Customer Satisfaction

Customer delivered value is the difference between total customer value and total customer cost.

Total customer value is the bundle of benefits customers expect from a given product or service.

Total customer cost is the bundle of costs customers expect to incur in evaluating, obtaining, and using the product or service.

Customer satisfaction

Satisfaction is a person’s feelings of pleasure or disappointment resulting from comparing a product’s perceived performance (or outcome) in relation to his or her expectations.


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