Glossary
- Page ID
- 54084
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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 |
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(Eg. "Genetic, Hereditary, DNA ...") | (Eg. "Relating to genes or heredity") | ![]() |
The infamous double helix | https://bio.libretexts.org/ | CC-BY-SA; Delmar Larsen |
Word(s) | Definition | Image | Caption | Link | Source |
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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. |