CUSTOMER VALUE

CUSTOMER VALUE?

Customer value is the amount of satisfaction the consumer receives after using the product. It states the worth of the product to its consumer.

• Vpj is of a great value, as it has multiple uses.
• Its a total skin care remedy.
• Its an affordable product
• Very handy
• Its a good quality product
• Easily available 
• Has a good market share
• Strong Brand image in the market
• Product of HUL
• Used by 90% of population
• Has a good shelf life

CUSTOMER PERCEIVED VALUE

It is the value that a customer perceives to obtain by buying a product. It is the difference between the total obtained benefits according to the customer perception and the cost that he has to pay for the offering. The customer will buy the same product only if he perceives to be getting some value out of the product.The marketer can increase the value of the customer offering by raising economic, functional or emotional benefits and reduce costs.

I.E (Customer Perceived Value = Total Perceived Benefits – Total Perceived Costs)

Total Customer Benefit

• Image- This is the image a brand holds in the market. VPJ has a strong brand recognition due to HUL. It has gained a wide market share by positioning itself as a multipurpose product.

• Personnel benefit- It include the customer’s perception of the utility value of the personnel in the system of the product to him/her. As vaseline is a day to day product and is as basic as a cream, the customer need not look for personnel benefit

• Service benefit- They are the services that are offered along with the product. Since its a day to day product there are no service benefit attached to VPJ. 

• Product benefit- Multipurpose product which is affordable by many. The product has a great shelf life, it is easily available, has a good brand image. 

Total Customer Cost 

• Psychological cost/Risk cost - Its the total mental effort made during acquiring and using the product from the moment it was bought to the moment it was consumed. 

• Energy cost- It refers to the energy spent by the buyer during the entire process of buying the product.  Since it is easily available so energy cost is low.

• Time cost- Its the total amount of time that has been invested by a customer during his buying process. Refers to to time to reach the store and to have access to the product. Time cost is low as it is available at any chemist, departmental store, grocery store etc.

• Monetary cost- Very affordable as it costs rs 27-  21gms, rs 45-42gms, rs 79- 85gms.