Customer Expectations and the Definition of Value

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1.00 hour
Online Self Study

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About the Course

A firm must determine the characteristics of products and services that are of most value to customers. This understanding of customer wants and needs can then be used to determine how the firm will compete in its selected markets.

Course Description

Customers have a perception of which product and service characteristics are required and which distinguish one organization's offering from those of competitors. Customer priorities change from one market segment to another and within a market segment over time. Customer wants, needs, and priorities must be understood and addressed. The organization must implement processes to recognize and respond to the changes in the marketplace.

Learning Objectives

After completing this course, you should be able to:

  • Explain value from the perspective of the customer.
  • Discuss the concept of order qualifying and order winning criteria.
  • Match forms of competitive advantage to specific market segments.
  • Recognize the need for and elements of a marketing strategy.


The following topics are included in the course:

  • Understanding customer perception of value
  • Why do customers select offerings
  • Forms of competitive advantage
  • Elements of marketing strategy