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The Elements of Value
Remigiusz Bondarowicz
January 07, 2024
The Elements of Value
Companies face challenges in identifying and delivering what customers truly value. The complexity of understanding preferences and the lack of a systematic approach hinder businesses from maximizing customers' satisfaction and loyalty.
Products and services deliver fundamental elements of value that address four kinds of customer needs: functional, emotional, life changing, and social impact.
The Elements of Value is a framework designed by Bain & Company that identifies and categorizes fundamental attributes that customers value in products or services.
In this bite-sized wisdom issue you will find:
What are 30 elements of value defined by Bain & Company?
How to effectively use the framework for your company and product?
What is the impact of well implemented elements of value?