Customer Satisfaction Versus Customer Value

Customer Satisfaction versus Customer Value

In my opinion customer satisfaction and customer value are interdependent. I believe that customer value is built off of customer satisfaction. When customers are satisfied with a good or service that is provided from a company it builds up the value of that good or service. It is highly important to make sure that issues and problems customers have with a good or service are addressed immediately to ensure that they stay loyal as well as promote the product or service. By paying attention to customer satisfaction it sets you aside from competitors and ensure that business does not decline as well as assists in predicting growth. Customer value is based off of how well a product performs and does the job it was promised it would do. Customer value is valuable for a company to have because it helps predict how a companies product will perform in the market place. I do believe that it is possible to have customer satisfaction with low customer value because because many customers can be satisfied with a product, but it doesn't mean that the product or service is providing all of the needs and wants of a customer.

Do you think that one is more powerful over the other?