Customer value and customer involvement in the process of value creation

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The story "Customer value and customer involvement in the process of value creation" was covered 12 hours ago by e27, a news publisher based in Singapore.

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Customer value and customer involvement in the process of value creation - e27

Quick Summary:

In the past, most companies tried to increase their profitability by cutting corners, meaning that they strived to optimise their operational efficiency and lower costs.

Once this level of need is met, customers look to fulfil their social also needs, allowing them to connect with other people in society, gain a sense of belonging and form long-lasting relationships.

Interestingly, despite the prevalence of the concept, not all public research agreed on a universal definition of customer value, citing the fact that value is highly relative and varies with customers’ life perspectives, cultural beliefs, and priorities.