customer value is the ratio of benefits to the sacrifice necessary to obtain those benefits.
Customer value measures the value of a product or service and compares it to possible alternatives. This determines whether the customer feels they have received good value for the price they paid for the product/service.
Customer value can be viewed as insight into buyer regret. Customers will regret their purchase if they feel that the total cost of the product outweighs the benefits. Especially if there are competitors with better offers than you for similar products and services. Understanding customer value and how it is calculated can help businesses price their products fairly and reduce friction in the customer experience.
learn more about customer value here: https://brainly.com/question/14838659
#SPJ4
