Question: Which of the following is the first step in customer value analysis?
A Examine how customers in a specific segment rate the company’s performance.
B Assess the company’s and competitors’ performances on the different customer values against their rated importance.
C Identify the major attributes and benefits that customer’s value.
D Monitor customer values over time.
Answer: Identify the major attributes and benefits that customer’s value.
| Steps in customer value analysis | Description | |
| 1 | Identify the major attributes and benefits that customers value | This step involves understanding and defining the key factors that are important to customers. |
| 2 | Assess the quantitative importance of the different attributes and benefits | This step determines the relative significance of each factor for customers. |
| 3 | Examine how customers in a specific segment rate the company’s performance |
This step involves collecting feedback and ratings from customers regarding their perception of the company’s performance. |
| 4 | Assess the company’s and competitors’ performances on the different customer values against their rated importance |
This step compares how the company and its competitors perform in relation to the identified customer values. |
| 5 | Monitor customer values over time | This step continuously track and evaluate customer values and preferences to adapt to changing customer needs and market dynamics. |