Value is a capability provided to a customer at the right time at an appropriate price, as defined in each case by the customer. The more a product or service meets a customer’s needs in terms of affordability, availability and Utility the greater value it has. Thus a product with a true value will enable, or provide the capability for, the customer to accomplish his objectives.
Value is a measure if the worth of a specific product or service by a customer, and is a function of:
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