Measuring customer value in commercial experiences

Abstract

Customer value is of importance to all businesses in the search for competitive advantage. To learn about what customers truly appreciate, measuring can be a vital source of information towards an understanding of what creates customer value. Commercial experiences are claimed to be an offering of their own, separate from goods and services. The existing tools and models for measuring customer value do not focus on the elements pointed out as vital for commercial experiences. A case study was performed on customers participating in a high-impact commercial experience to understand what is valuable to the customer. The results were used to develop an approach to measuring customer value specifically for commercial experiences. In the study, questionnaires were designed to find out about customer expectations before the experience compared with customer satisfaction after the experience in search for important factors of customer value. The study achieved a high score indicating a high level of received customer value, reinforcing the selected measurement variables. The approach proposes the development of a measuring tool consisting of 22 elements along with the WOW-impact specifically adapted for measuring customer value in commercial experiences. This is one way of expressing the created experiential quality.