From whose perspective should customer value be assessed?

Customer value should be assessed from the customer's perspective because it ultimately reflects how customers perceive the benefits and costs associated with a product or service. Understanding customer value involves recognizing what is important to customers—such as quality, price, convenience, and brand reputation—and how these factors influence their purchasing decisions. By evaluating value through the lens of the customer, businesses can better tailor their offerings, enhance customer satisfaction, and foster loyalty.

In assessing customer value from their perspective, companies can identify key drivers of satisfaction and ensure that they meet or exceed customer expectations. This approach allows businesses to align their marketing strategies with the needs and desires of their target audience, resulting in stronger relationships and increased sales.

The focus on the customer's viewpoint differentiates it from other perspectives, such as that of the company, competitors, or retailers, which may prioritize internal metrics or competitive advantages rather than the actual needs and perceptions of the customer.