ABSTRACT
How the hospitality business can develop customer value is crucial if it is to survive and compete effectively in the marketplace. The key is how the hospitality business can generate a value proposition that is clearly identifiable among its customer base and differentiates it from competitors. This chapter defines what is understood by customer value before going onto explore the value proposition framework, the critical success factors for customer value and customer satisfaction, retention and loyalty. The chapter will also discuss the consequences of the customer value proposition (CVP).
