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Incremental customer value

Definition updated on November 2023

How does incremental customer value influence pricing decisions and customer relationships?

Incremental customer value refers to the additional value that a customer perceives in purchasing a pair of sneakers over and above the value of the next best alternative. This value can be created through various factors such as the uniqueness of the sneakers, the brand reputation, the customer service provided, or any additional benefits or features that are not available from competitors. For example, a customer may perceive higher value in purchasing a limited-edition sneaker from a reputable reseller who provides authentication services and a money-back guarantee, compared to purchasing a similar sneaker from a less reputable seller. In the sneaker resell market, creating incremental customer value is crucial for establishing a competitive advantage and building customer loyalty. This can involve offering unique or exclusive products, providing exceptional customer service, building a strong brand reputation, or offering additional services such as authentication, fast shipping, or flexible payment options. For beginners in the sneaker resell market, it is important to identify the unique value proposition of their business and to communicate this value clearly to customers. Additionally, it is important to continuously seek feedback from customers and to make improvements to the business based on this feedback. Ultimately, creating incremental customer value is an ongoing process that requires a proactive approach and a commitment to excellence.

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