Supplier Performance Benchmarking - Customer Value Analysis
How effectively is your company competing in your Market?
How do customers value your product/service vs. competitors?
Customer Value Analysis (CVA) is a detailed approach to determine how to effectively compete in the marketplace vs. your competitors.
CVA assesses how your organization’s product(s) and/or service(s) are viewed relative to competitors’ products and services in the marketplace based on the perceptions of both your customers and your competition’s customers.
The importance of this methodology is that customers' perceptions of value is a prime predictor of future market share.
CVA results highlight all the critical non-price and price attributes (factors) that have an impact on the customer’s purchase decision along with their importance as well as the performance of each supplier on each factor.
If you desire to be the market leader, CVA is a research tool you should embrace in all customer perception research.
||Why Conduct This Type of Research
||Outcome(s) To Be Expected
How to effectively compete in one’s Market?
YOU LEARN for example
- What is important to customers?
- How do customers select between suppliers?
- How do customers perceive your overall value relative to key competitors?
- How competitive is your market position vs. key competitors – short/long term?
- How do customers perceive your performance on the key decision factors relative to key competitors?
- How important is price in the purchase decision?
- Which competitors are the most vulnerable and which competitors pose the largest threat to you?
The Value Leader is the Market Leader
Increases in Customer Value Scores leads to an increase profits
Ability to maximize your customer value position
Ability to align your organization to the market better than the competition
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