In order to compete successfully, most firms today have to provide their customers with better than their competitors

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19-09-2022
Business

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In order to compete successfully, most firms today have to provide their customers with better than their competitors

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Qwrat Qwrat · Answer 1 · 2022-09-23T05:49:02-04:00

In order to compete successfully, most firms today have to provide their customers with better value than their competitors

Customer value measures a product's value to a customer in relation to prospective substitutes. When determining customer value, many businesses take an equation into account.

Organizations use marketing to better understand, connect with, and serve their consumers. The client is seen as the foundation of marketing, thereby enhancing value.

The greater a company's value of the worth of its customers, the higher its performance and customer happiness will be. This increases revenue, market share, and the number of devoted clients who will raise the stakes for your company.

Therefore, most businesses nowadays must provide their clients with greater value than their rivals in order to compete successfully.