| attribute |
An inherent characteristic or quality of some object. |
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| benefit |
A result or outcome associated with consuming that product or service. |
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| bias |
To exhibit or characterize by bias or prejudgement. |
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| commoditization |
A product becomes indistinguishable from others like it and consumers buy on price alone. |
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| commoditized |
Competitors believe they are delivering similar products with similar service levels. |
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| competitive advantage |
An advantage over competitors allowing it to generate more sales and retain more customers than the competition. |
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| competitor-centered firms |
Firms whose moves center on competitors’ moves and actions. |
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| customer perception |
What the customer thinks about a company, not what it actually offers. |
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| customer value |
The customer’s sense of what benefits they get from a firm relative to the price they pay. |
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| disequity |
The current offering is unsatisfactory to the customer on this attribute. |
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| inside view |
The assets, resources, capabilities, and knowledge that the company brings to bear in producing value for its customers. |
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| instrumental value |
Value as a means to another end or value. |
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| laddering |
Drills down into deeper reasons underlying customers’ interest in the attributes of a product or service. |
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| Low awareness |
Attributes that may have value to customers but are largely unknown. |
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| market driven |
Focus is jointly on competitors and customers. |
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| market segment |
An identifiable group that shares one or more characteristic. |
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| miscommunicated equity |
The customer does not really understand the attribute or benefit and how effectively we offer it. |
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| Negative value |
Value with which customers are dissatisfied. |
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| nonvalued equity |
The attribute is unimportant to the customer. |
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| outside view |
The customer’s perception of a company’s value and competitors’ values. |
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| points of difference |
The product delivers substantial, unique value to customers in the form of superior performance. |
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| RCA |
Resources, capabilities, and assets. |
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| 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. |
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| Thinking deeply |
Recognizing that there are deeper values or problems that drive customers’ decision making. |
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| unleveraged equity |
The value sought is not effectively provided but it possibly could be provided. |
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