Consumer Value Management

Often companies drive innovation to bring change in the market for competitive advantage and reduce the cost and time of manufacturing a product or delivering a service with the desired quality and competitive advantage. Most challenging issues in the market, such as change management, improvement in products and services, and enhancing customer value, are on the axis of identifying redundancies in existing market competition and eliminating them to reduce cost and time involved in the process of generating end values. This chapter addresses the critical issues on delivering customer value and enhancing organizational competency in managing customer values. The chapter illustrates attitudinal models for adapting to competitive differentiation, suggesting that co-creation of new product development and competitive differentiation are two efficient strategies that companies intend to follow. The chapter also addresses various issues referring to managing process improvements and developing an innovations value chain within the value chain triangles of QCT (quality, cost, and time) and TBC (technical, behavioral, and cultural factors).