Value Proposition
A lot of the advertisements one sees today communicate a message about how businesses deliver value and quality to the customer. Over the past decade there has been a subtle change in terminology as some company's have moved from the word satisfaction to terminology that uses value. This is an important distinction, and one that Steward & Associates has assisted its clients in defining over the past 14 years.
Value versus Satisfaction
Research conducted by Steward & Associates over the years continually demonstrates that value is a function of relative quality and relative price. That is, value is "driven" by the perceived performance of "quality" and "relative price" both acting as "drivers." Value, in turn, "drives" customer retention and attraction that ultimately contributes to sales growth and market share.
The term "satisfaction" that has been used for many decades in customer satisfaction research, has largely been dispensed with given that it has not allowed client organizations the ability to effectively understand the relationships and drivers of one being satisfied. It is possible, Steward & Associates research has found, for customers to be satisfied but not feel they were delivered value. And, for the customer, value impacts loyalty!
What Value can Steward & Associates Bring to Your Company?
Steward & Associates is a full-service market research company specializing in Customer Value and People Valued research as well as research that assists in uncovering the adoption and take-rates of a proposed product or service. If your firm or organization is serious about uncovering the drivers of value and loyalty, or wish to understand the take-rate of a product or service, click here to learn more about us, and our services.