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. Continue reading “Your Customer Value Equation”