What is Customer Value?

Customer Value = Customer Perceived Benefits / Resource from which the benefits are obtained
Ex: A customer who visit an expensive food outlet expect a unique, delicious food, impeccable service and high aesthetic value of outlet. When diners receive what they perceived they leave the restaurant that the experience was worth the money.

Customer value is all about subjective perceptions, which can only be influenced, not controlled. Customer value is the satisfaction the customer experiences (or expects to experience)

Customer Value is important because any consumer who enters your business will be looking for value. Only if you will provide the value your customers will sustain in your business. Customer value is the phenomenon that keeps companies from teetering over the brink into bankruptcy and, instead, maintaining long-term relationships with existing customers and earning repeat business by providing an excellent customer experience.