What are the four types of customer value?

What are the four types of customer value?

The four types of value include: functional value, monetary value, social value, and psychological value. The sources of value are not equally important to all consumers.

What are the three categories of customer value expectations?

Ultimately, all customer needs can be categorized into three main types: functional, social, and emotional needs.

What are the types of things your customers value?

The Four Categories of Customer Values

  • Functional — the qualities of the brand, product, or service.
  • Emotional — the way the brand, product, or service makes the customer feel.
  • Life-Changing — the way the brand, product, or service alters the life of the customer.

What are the categories of values?

Walter Goodnow Everett classified values into the following eight categories; (1) economic values, (2) bodily values, (3) value of recreation, (4) value of association, (5) character values, (6) aesthetic values, (7) intellectual values, (8) religious values.

What are the six types of values?

What are the types of human values?

  • Individualistic Values. The most inherent value of a person is individualistic which means valuing the self over anything else in the world.
  • Family Values.
  • Professional Values.
  • National Values.
  • Moral Values.
  • Spiritual Values.

What are the four categories of value systems?

He distinguished four types of value;

  • Intrinsic value,
  • Exchange value,
  • Use value,
  • Utilitarian value.

What are the three value elements?

We have identified 30 “elements of value”—fundamental attributes in their most essential and discrete forms. These elements fall into four categories: functional, emotional, life changing, and social impact. Some elements are more inwardly focused, primarily addressing consumers’ personal needs.

What do customer value most?

There is more than one thing that customers value when purchasing a product. Customers want low prices because they want to pay less money. Additionally, customers want quick service and good after-sales service, which often leads them to being loyal customers. They also want products with useful and valuable features.

What are consumer values?

In more technical terms, consumer value refers to what the product or service is worth to a consumer in relation to the alternatives. The way worth is defined is what the consumer feels she gets as benefits in return for the money she pays. The elements of satisfaction and loyalty are tied to consumer value as well.

What are the 6 categories of value?

There are a number of different categories into which values can be placed.

  • Personal values. Personal values are those you take for yourself and which constitute a critical part of your values and are apparent in attitudes, beliefs, and actions.
  • Social values.
  • Political values.
  • Economic values.
  • Religious values.