From whose perspective should customer value be assessed?

Customer value should be assessed from the customer's perspective because value is inherently subjective and is defined by what the customer believes they receive from a product or service compared to what they give up in return, such as money, time, or effort. Understanding this viewpoint allows companies to tailor their offerings to meet the needs, preferences, and satisfaction levels of their customers.

When companies prioritize the customer's perspective, they can better identify and enhance features, improve service delivery, and create benefits that resonate with their target audience. This leads to greater customer loyalty, higher retention rates, and ultimately impacts overall business success in a competitive marketplace.

While other perspectives, such as those of the company or competitors, can provide useful insights, they do not capture the essential notion of value as it is experienced by the customer. Retailers may have their own interests, but the core of customer value assessment must always focus on the experiences and evaluations of the customers themselves.