John Morgan has written a ‘how to’ guide for businesses and SMEs on understanding the customers’ perception of value for Fresh Business Thinking.
“Even in the fairly recent past, the idea of measuring your customers’ perception of value was a fairly simple one and was based, almost entirely, on the cost of the goods or service being provided, with the emphasis, for the business concerned, falling on reducing costs to the lowest practicable level and therefore boosting profit. This, however, was a process which took place in a completely different consumer landscape, with the choice for the average consumer severely limited when compared to the plethora of options on offer today.
Armed with as little as an internet connection and a smartphone, the average customer or prospective customer can access markets, goods and services from around the world, and is therefore in a position to measure value in a more sophisticated, complex and nuanced manner…”
