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The elements of Value - Coggle Diagram
The elements of Value
What is it?
When customers evaluate a product or service, they weight its perceived value against the asking price.
We have identified 30 "elements of value" fundamental attributes in their most essential and discrete forms these elements called " The elements of value Pyramid" These elements fall into four categories:
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Important points
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No other elements can make up for a significant shortfall on quality which has the greatest effect on consumer advocacy.
Growing Revenue
To test wheter the elements of value can be tied to company performance specifically, a company's customer relationships and revenue growth we collaborated with Research Now.
Patterns of Value
To help companies think about managing the value side of the equation more directly, we wanted to understand how the elements translate to successful business performance.
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Getting Started
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New product development
Our model can stimulate ideas for new products and for elements to add to existing products and for elements to add to existing products.
The elements of value work best when a company's leaders recognize them as a growth opportuity and make value a priority.
Customer segmentation
Most comapnies have a formal method of segmenting their customers into demographic or behavioral groups, which presents an opportunity to analyze what each of these groups values.
