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Your Customer Value Equation

May 25th, 2012

It’s an oldie but a goodie.  I’m referring to Heskett, Sasser and Schlesinger’s book The Service Profit Chain.  It was first published in 1997 but the substance it contains is as relevant today as it was then.

One of the concepts they introduce is the Customer Value Equation which reminds us that from the perspective of a customer, value is simply the sum of results and process quality divided by the price paid plus the cost incurred by the customer to receive the service. Read more…