Customer Value Analysis in Financial Services

This study investigates what creates value for customers and how providers can improve value for their customers. A comprehensive analytical model with a four-step approach is presented and applied in the field of financial services. In a first step, the main customer value drivers are identified and five value dimensions are derived, based on qualitative interviews with customers. These results are then compared to value assumptions made by customer-contact employees, and the gaps between customer and employee perceptions are analyzed. Based on these identified gaps a multitude of implications for managing company CV at the normative, strategic and operational level of management are derived and finally implications of findings for service marketing practice and research are discussed.