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Value Creation for Service Product 55
Self actuation
Esteem
Belonging
Safety
Relative importance
Survival
Psychological development
Figure 3.1 Value and Psychological Development
and without fancy features. This fact shows that survival and safety needs are
predominant for these consumers. In more affluent countries, printing some
sports star’s figure on cereal boxes might be a very effective way to increase
sales because it addresses the esteem and belonging needs for many children.
The customer value is also very dynamic; that is, it changes over time. Many
factors can change customers’ preferences and tradeoffs, such as economic
conditions, new technologies, and the evolution of customer psychological
development.
The oil price change will affect people’s attitude toward the types of cars
they like. Bad economic times, fierce competition, and a tough job market
can make discount chain stores the favorite shopping place. A strong com-
petitor’s emergence in a market segment will greatly change the expec-
tations for a particular product or service.
3.3 Maximize Customer Value by Service Product Design
One of the most important keys for a service organization to succeed in the
marketplace is to design customer values into service product design. In
order to accomplish this, the service organization needs to do the following:
1. Find out what customers really need by marketing research.
2. Analyze customer values.
3. Deploy customer values into service product design.