What does a customer consider as "value"?

Any thing that satisfy the customer needs or expectations can regarded as value

What does a customer consider as "value"? Value is personal.
Like beauty, value is in the eyes of the beholder.
To some value is quality.
To others , its service, support or ease of doing business.
There are as man definitions of value as there are people to define it.
However, value defined from the customer’s point of view is key to manufacturer’s / supplier’s  success.
A customer views value as “ value received”.
It is the customer focused value and not seller focused value.
It’s the customer’s problem, their money and a solution with which they must live.
It’s the customer that decides what is value and what is not.
Most people  describe value in cost- benefit terms.
They weigh the cost of something against its performance.
If the performance is greater than the cost, it’s a good value.
 Customers consider the effort they expend and resources the invest to acquire something.
If what they acquire exceeds the effort and resources exchanged for its acquisition, the consider it a great value.
As such the perception of value is subjective.
As per Sales Guru Tom Reilly, Price + cost  + impact = value where price is acquisition cost,  cost is total ownership cost and  impact is what the product does for the customer.
Perceived value and performance value  influence the customer’s decision to buy or not.
Perceived value: customers also perceive  the value of a product .
it is the sensory input.
Perception is the subjective reality.
It’s the qualitative features of what is being sold.
It’s the style, brand name, reputation, packaging, and the sellers knowledge of the given product.
Perceived value plays to the buyers senses.
 it   fuels customer’s expectations.
Performance value:  Performance value is the proof behind the promise of perceived value.
It’s the substance over style.
Performance value  drives customer’s satisfaction.
One may get business by creating the perception of greater value, but one keeps the business through the performance of greater value   It is not value until the customer says it’s value

cost, quality, time

- A customer consider's a product/service one of value , if it fulfills a need or is a solution to a pain that the client has.
To be able to sell that product/service to a client, you need to identify the problem/need, and explain the features and benefits associated to that specific need in order for them to perceive the value and buy.

What ever the customer is welling to pay for.

value is what makes your product or service worth something.

you add value when your product is unique,special,new,innovative....etc.

customer demand also adds value.

pricing, terms of paying, and above all customer service and after sale services like support and such 

For a product or a service to deliver value to the client it can be:

 

1. Tackling a pain: when your solution or service solves a problem that is annoing the client then this product or service is considered valuable.

 

2. Reducing cost: when the product or service enable the client to reduce cost, this will directly impact profitability of the client and accordingly deliver value.

 

3. Increasing profits:  enabling the client to sell more or make more profit is one of the values you can deliver to the client.

 

4. Enhancing the way they do business either by reducing the delivery time, reducing the number of people needed to get the job done or cutting the cost of production.

 

5. Trendy and new: this is more applicable in the B2C where your product and service give the client a way to show up status or be up to the beat.

 

 

Affordability because no matter how beneficial a product is but if it is way expensive for a customer, he/she would never go for it.

 

When a product’s perceived benefits EXCEEDS customers expectation during consumption against the PRICE point identifies it’s value for that customer.
Getting this heightened value is what customer enjoys the most and this is what categorizes and separates your brand from competitors.

A customer purchases a product / service with a SPECIFIC USAGE in mind.
The company selling the product / service would have advertised the basic characteristics of the product / service.
After going through the ad, the customer will purchase the product.
If the customer EXPECTATION and the UTILITIES of the product are same, then, it is considered as "VALUE".
For e.g., a mobile hand-set, a four wheeler, a remote-control toy, a camera, etc