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A CVA project ideally combines moderated internal workshops involving a mix of senior managers, technical and marketing people and interviews with decision makers in customers and non-customers.
Customer surveys allow cluster analysis to define market segmentation:
look for as few segments as possible, different from one another butinternally homogeneous in terms of buying attributes, competitors and customer perceptions.
The Value Map
The Value Map shows the positioning of this business and all
competitors in a specific market segment along the dimensions of
relative perceived quality and relative price. The fair value line indicates the customer’s weighting of price vs. quality in the purchase decision: flat = price sensitive, steep = quality sensitive.
A position to the right and below the fair value line = superior Customer Value, left and above = inferiority, on the line = average value for money.
The attribute chart
The attribute chart shows the importance of each purchase criterion on the horizontal axis and your performance against all competitors on the vertical axis.
The farther right a purchase criterion is positioned the greater is its importance.
- The higher the rating difference of a purchase criterion the bigger
- the competitive advantage of your business – the lower, the bigger the business’ disadvantage.
- The highest priorities for change are the attributes at the bottom right.
