Customer value and satisfaction

Customer value and satisfaction are the two most important outcomes that companies strive to achieve. Customer value is the perceived benefit that a customer obtains from a company's product or service, relative to the cost they pay. Satisfaction is a measure of how happy a customer is with the product or service they receive, as well as their overall interaction with the company. Companies strive to create products and services that are valuable and satisfying to the customer to build a successful business relationship. By focusing on customer value and satisfaction, companies can generate repeat customers and increase customer loyalty which leads to growth and profitability.