Value and Satisfaction

Customer value: it is the difference between the values that the customer achieves from owning and by using a product and the costs of getting the product. Customers form expectations regarding the value of many marketing offers and buy accordingly.

Customer satisfaction: it depends on a product's apparent performance in delivering value relative to a buyer's expectations. Customer satisfaction is a key effect on future purchasing behaviour.

1). Marketers has to be careful to set the right level of expectations.

2). Customer satisfaction and Customer value are key building blocks for managing and developing customer relationships.