“The price is what you pay, the value is what you get.”
Designers create customer value by instinct. Good industrial designers are not only creative, they also have a good sense of what customers of specific market niches like and what they are prepared to pay.
Below we try to unravel the general characteristics of customer value and the way we can create and enhance it.
Customer value is defined as “the use, fun and ‘social status’ the customer expects to have after the purchase”. So, customer value is related to the quality of the product and/or service in the broad sense: tangible as well as non-tangible aspects. Garvin was the first who analyzed what quality is, and defined the “8 dimensions of quality” for products (in his book Managing Quality, 1988), see webpage …garvin.
It is important to notice that quality has its acceptable price for each individual customer. See Fig. 3.5. Products and services can be too expensive or very cheap in the eyes of the customer. This brings us to the concept of the “market value”, being the “fair price” in