Abstract
Companies today must have a customer value mindset and deliver exceptional value. Solid customer relationships ensure retention and improve business performance. This conceptual article explains how to create and manage customer value in changing global markets. Key business sectors and growth prospects in the Now Economy are described. The Now Economy requires companies to master the 5-S formula—speed, service, selection, sociability, and solutions. As millennials are a major part of the digital marketplace, their preferences are explored. A framework for introducing and enhancing customer value based on service, quality, image, and price (S-Q-I-P) is recommended for marketing managers. Customer-centric, strategic implications for relationship management are provided. In addition, a customer value research agenda—related to speed, time, segmentation, product strategy, pricing, and new technologies—is offered to scholars.
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Disclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.