Customer value is a fundamental requirement for any organization’s marketing strategy. It also allows companies to acquire, retain, and satisfy consumer needs within the target market segment (Lamb et al., 2021). Besides that, it enhances the capacity of organizations to build long-lasting relationships with consumers. Accordingly, delivering customer value entails focusing on four key elements of the marketing strategy. Typical companies offer consumer products that offer consumer value and are essential to overall marketing strategies. Hence, businesses must focus on four key attributes for creating customer value, as discussed below.
1. Fulfill an emotional value in the target market. Consumers typically look for products that save time, reduce effort, eliminate risks, and their organizational ability.
2. Satisfy consumers’ emotional needs, aesthetics and entertainment needs. Companies that excel in this approach include Apple, Netflix, and Tesla.
3. Provide clues wire motivation, self-actualization, and sense of belonging from non-proud people that have utility and are beneficial.
4. Creating customer value is an essential requirement in marketing. Therefore, businesses should focus on the social aspects of providing customer value within their industry.
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