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Business Glossary


Business Definition for: customer value
customer value

difference between customer realization and sacrifice. Realization is what the customer receives, which includes product features, quality, and service. This takes into account the customer's cost to use, maintain, and dispose of the product or service. Sacrifice is what a customer gives up, which includes the amount the customer pays for the product plus the time and effort spent acquiring the product and learning how to use it. Maximizing customer value means maximizing the difference between realization and sacrifice.

Copyright © 2005, 2000, 1995, 1987 by Barron's Educational Series, Inc., Reprinted by arrangement with Publisher.


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