VIEWS ON CRITERIA: BASE FOR JUDGING VALUE
In the previous chapter, we were concerned primarily with the issue of to whom one sells – those individuals whose perceived value are at play during the purchasing process, namely key persons and core opinion leaders. It is these people’s value that the seller has to endeavor to understand, in order to be able to architect the final integrated product. The focus of this chapter will be on the process of how the customer-perceived value is formed, and the various strategies and tactics that are available to the seller to effectively deal with this process. The process of value formation is very intricate and can take different shapes depending on several factors including the nature of the customer needs, the situation where these needs emerge (new versus existing situation), the risks involved, and the key persons involved. Sometimes, we like to compare the intangible process value formation to the physical process of crystals formation. It would probably be beneficial for the reader to use the crystals formation process as a metaphor for visualizing what we will describe below about customer value formation.