"Everything is worth what its purchaser will pay for it." This phrase was said many centuries ago and is still worth today. Any time customer, in fact these customers whose costs are driven by what they purchase, increasingly look to purchasing as a way to increase profits and thus pressure suppliers to reduce prices. A good example beside the one in the article is when you are going to buy a car and you start searching about what car dealer is the best for you to buy yours. How can you decide which of the dealers it's the best for you, it is a good question. A growing number of suppliers have created a customer value models, that is no more than data-driven representations, of the worth in monetary terms, of what the suppliers are going to could do for its customers.
I have been talking about values, but what they are and what values are in business is what I'm going to explain right now.
In business market values are the worth in monetary form of the technical, economic, service and social benefits any customer receives in exchange for the price it pays for a market offering. An example of value in monetary term is dollars per unit, guilders per liter, or kroner per hour. On the other hand, benefits are no more than in which any costs a customer incurs in obtaining the desire benefits, except for purchase price, are included. And finally value is what a customer gets in exchange for the price it pays. In fact, value is one of the two elemental characteristics of marketing offer; the other one is price.
Field value assessments that is the most commonly and accurate method used to build customer value models. This value is used to...