It is not sufficient for a firm only to satisfy its customers. To be really successful, a firm must create value for its customers and also derive value from its customers-that is a âwin-winâ strategy. In this study, the category of customer value will be redefined by suggesting a new category of âcreative valueâ, then discusses how this category of âcreative valueâ relates to other forms of âvalueâ. Then, the concepts inherent in the refined Kano model and associated with the Blue Ocean Strategy are explored. Using these concepts, an integrated model of âvalue creationâ are built and will be explained how this model can be used to determine appropriate improvement actions to enhance customer value, and also enhance customer retention, customer acquisition, and customer margin, all of which make significant contributions to company profits. A case study is presented to illustrate the application of the model in practice.
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