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Customer Value

The title of this book by Pam Ingmire is

Creating Winning Value Propositions 2.0

In my review posted on Amazon.co.uk, I gave the book a 4 Stars rating. This means it is Good to Very Good.

Here is my book review.

A well defined process

This is a very sensible, clear process for developing a value proposition. [continue reading…]

in 3 – Your Strategic Positioning, Best Business Books

The Camel Theory by Marco Lucchina

The full title of this book by Marco Lucchina is

The Camel Theory: Design and execute your unique value proposition

In my review posted on Amazon.co.uk, I gave the book a 1 Star rating. This means it is Very Disappointing.

Here is my book review.

Very hard to read.

I’m beginning to think it’s hard to write well about customer value, value propositions and similar topics. [continue reading…]

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Malcolm McDonald on Value Propositions

The full title of this book by Malcolm McDonald and Grant Oliver is

Malcolm McDonald on Value Propositions: How to Develop Them, How to Quantify Them

In my review posted on Amazon.co.uk, I gave the book a 2 Stars rating. This means it is Disappointing.

Here is my book review.

Very disappointing. High expectations not delivered

How well businesses differentiate themselves in the eyes of their potential customers is a bit of a hobbyhorse for me.

I believe it’s often one of the fundamental problems that lie at the heart of underperformance in business. It’s also an area I find fascinating. [continue reading…]

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What Do Consumers Value When Buying?

Consumers are private individuals buying for themselves and their families but how do they choose what to buy out of all their options?

Obviously it is going to vary based on the product. Someone won’t buy a car using similar value attributes to buying pet food for their dog.

Are there common value attributes for these B2C deals and relationships? (B2C refers to business-to-consumer.)

Strategy consultants Bain think so and shared their thoughts in an article in the Harvard Business Review.

The Elements of Value by Eric Almquist, John Senior and Nicolas Bloch from the September 2016 Issue. (You can read the full article on the HBR website and two others for free.) [continue reading…]

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What Do B2B Buyers Value When Making Buying Decisions?

Buying has changed a lot since the Internet became popular, both for consumers and for B2B buyers. I’m looking at consumers in a separate article so here I want to answer the question…

What Do B2B Buyers Value When Making Buying Decisions?

To answer it, I’m summarising an excellent article in the Harvard Business Review:

The B2B Elements of Value by Eric Almquist, Jamie Cleghorn and Lori Sherer from the March–April 2018 Issue (You can read the original here).

Bain, the strategy consultants have produced 40 elements of value which they fit into five major categories. They have also look at what consumers value when buying.

The Main Categories of B2B Values

[continue reading…]

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The Irresistible Value Proposition by Steve Thompson

The full title of this book by Steve Thompson is

The Irresistible Value Proposition: Make the Customer Want What You’re Selling and Want It Now

In my review posted on Amazon.co.uk, I gave the book a 4 Stars rating. This means it is Good to Very Good.

Here is my book review.

This presents the value proposition at the time of selling a particular deal to a particular customer

The author advises on deal-making, about 50% of the time selling and 50% buying. This gives him an excellent perspective of what you need to do to understand and communicate value and why our business is the one to choose. [continue reading…]

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The Customer Value Attribute Map is an essential tool to help you focus on establishing and maintaining a competitive advantage based on differentiation (i.e being different in ways which matter to the targeted customers.)

It goes by different names:

  • W. Chan Kim and Renee Mauborgne call it the Strategy Canvas in Blue Ocean Strategy, (This is probably the most famous of the names due to the popularity of the book.)
  • Cliff Bowman calls it the Customer Matrix in Competitive and Corporate Strategy,
  • I call a Customer Value Attribute Map (because I feel that’s the most descriptive) and
  • others call it a Customer Value Matrix.

It doesn’t really matter what you call it as long as you use the basic concept to get crystal clear about what particular customer segments or niches want and what you and your closest competitors offer. This way you can see areas where you are better than them, where they are better than you and where one of you offers a unique attribute.

Just don’t confuse it with the Customer Value Map which shows the fair value line of value for money between low price, low value brands and high price, high value brands and where your business lies in relation to that fair value line. [continue reading…]

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What Is Your Market Position? The Customer Value Map

There are many ways to differentiate a business. One of the easiest to understand is to find an unoccupied position on the customer value map where there is latent demand from customers.

What Is A Customer Value Map?

It’s a graphical representation of your market with price on one axis and customer value (i.e. what the customer gets for her money) on the other.

Customer value has many different components or attributes but at this stage, assume that value has a strong relationship with price along the lines of the old cliché… you get what you pay for.

This cliche is used to justify spending more on an item because (generally) price is a reliable signal of inherent quality.

An Example of A Customer Value Map

Here’s an example from the car industry which shows the fair value line for different brands. [continue reading…]

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What Customers Value – Order Winners & Qualifiers

I introduced the concept of order winners and order qualifiers in my article on key success factors and now I want to delve into this important topic in more detail.

How Customers Chose To Buy Or At Least Rationalise Their Purchase Decisions – Order Winners, Orders Qualifiers & Customer Value

Customers make their purchasing decision emotionally and logically on a perception of customer value for money.The unconscious mind communicates the decision to the conscious mind at lightning speed and leaves the conscious mind to look for the logical reasons to back up the purchase decision. [continue reading…]

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The full title of this book by Robert Woodruff and Sarah Gardial is

Know Your Customer: New Approaches to Understanding Customer Value and Satisfaction

In my review posted on Amazon.co.uk, I gave this book Four Stars. This means it is Good and Well Worth Reading, provided you don’t mind the academic nature of the book.

Here is my book review.

A challenging read

I read a great academic summary by Robert Woodruff on customer value and how you had to consider issues at the different levels of the customer’s thinking.

I was encouraged to buy this book, expecting to learn a lot. [continue reading…]

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