Customer value is back as the basis for success!
Customer value is based on Needs. Needs are complex - phew! so what is this complexity, the above article tells us - four regions from where this complexity is emerging (a) Functional Needs (b) Emotional Value (c) Symbolic value (d) Cost value.
Prof. Mohanbir Sawhney's paper - Fundamentals of customer value I keep on revisiting.
It defines three dimensions of customer value - Functional, Emotional and Cost. In a way these are the three key dimensions as emotion and symbolic are sort of linked.
The problem is much more complex as for a particular class of customers it is extremely difficult how the three key dimensions play out. It is because of one dimension that people get a service or product - I think it is really a combination of all three - in a way that Red Blue and Yellow form the three primary colours - these three dimensions of customer value need to be combined in such a way that the colour needed by a particular customer is delivered to her as per her needs! Thats a great challenge!