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Glossary

  • Page ID
    54084
  • Example and Directions
    Words (or words that have the same definition) The definition is case sensitive (Optional) Image to display with the definition [Not displayed in Glossary, only in pop-up on pages] (Optional) Caption for Image (Optional) External or Internal Link (Optional) Source for Definition
    (Eg. "Genetic, Hereditary, DNA ...") (Eg. "Relating to genes or heredity") The infamous double helix https://bio.libretexts.org/ CC-BY-SA; Delmar Larsen
    Glossary Entries
    Word(s) Definition Image Caption Link Source
    attribute An inherent characteristic or quality of some object.
    benefit A result or outcome associated with consuming that product or service.
    bias To exhibit or characterize by bias or prejudgement.
    commoditization A product becomes indistinguishable from others like it and consumers buy on price alone.
    commoditized Competitors believe they are delivering similar products with similar service levels.
    competitive advantage An advantage over competitors allowing it to generate more sales and retain more customers than the competition.
    competitor-centered firms Firms whose moves center on competitors’ moves and actions.
    customer perception What the customer thinks about a company, not what it actually offers.
    customer value The customer’s sense of what benefits they get from a firm relative to the price they pay.
    disequity The current offering is unsatisfactory to the customer on this attribute.
    inside view The assets, resources, capabilities, and knowledge that the company brings to bear in producing value for its customers.
    instrumental value Value as a means to another end or value.
    laddering Drills down into deeper reasons underlying customers’ interest in the attributes of a product or service.
    Low awareness Attributes that may have value to customers but are largely unknown.
    market driven Focus is jointly on competitors and customers.
    market segment An identifiable group that shares one or more characteristic.
    miscommunicated equity The customer does not really understand the attribute or benefit and how effectively we offer it.
    Negative value Value with which customers are dissatisfied.
    nonvalued equity The attribute is unimportant to the customer.
    outside view The customer’s perception of a company’s value and competitors’ values.
    points of difference The product delivers substantial, unique value to customers in the form of superior performance.
    RCA Resources, capabilities, and assets.
    Strategic bundles Aggregations of the firm’s internal attributes often invisible to the market, which have the potential of meeting current and future customer needs and values.
    Thinking deeply Recognizing that there are deeper values or problems that drive customers’ decision making.
    unleveraged equity The value sought is not effectively provided but it possibly could be provided.
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