Concept information
Preferred term
customer value
Definition
- Customer value represents the difference between the benefits the customer (whether an intermediary or an end user) realizes from the use of a product or service and the costs (monetary, psychological, or other) that the customer incurs through that use. A patient, for example, could receive positive customer value through the benefit of having a bacterial infection controlled by an antibiotic with a high level of efficacy. [Source: Encyclopedia of Health Care Management; Customer Value]
Broader concept
Belongs to group
URI
https://concepts.sagepub.com/social-science/concept/customer_value
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