Valuespace – Where Customers and Marketers Meet 11/13/2015 Copyright: , Dr. Banwari Mittal, ValueSpace, Inc., Cincinnati, USA Ban Mittal, Ph.D. Business Consultant, Professor, Author ValueSpace, USA Valuespace– A New Executive Guide to Creating Business Growth

Valuespace – Where Customers and Marketers Meet 11/13/2015 Copyright: , Dr. Banwari Mittal, ValueSpace, Inc., Cincinnati, USA. 2 VALUE The Basic Currency of all human exchange.

Valuespace – Where Customers and Marketers Meet 11/13/2015 Copyright: , Dr. Banwari Mittal, ValueSpace, Inc., Cincinnati, USA PRICE PERSONALIZATION 3 P’s Customer Valuespace PERFORMANCE CUSTOMER

Valuespace – Where Customers and Marketers Meet 11/13/2015 Copyright: , Dr. Banwari Mittal, ValueSpace, Inc., Cincinnati, USA. 4 Customer ValueSpace CUSTOMER PERSONALIZATION PERFORMANCE PRICE Quality Innovation Customization Fair Price Value Price Easy REACH Rapid RESPONSE RELATIONSHIP Nurture 3R’s of Personalization 3P’s

Valuespace – Where Customers and Marketers Meet 11/13/2015 Copyright: , Dr. Banwari Mittal, ValueSpace, Inc., Cincinnati, USA. 5 Performance Value - Quality Effectively does the job it is supposed to do, even implicit. (e.g., medical diagnosis is as accurate and complete as current knowledge will permit.) Performance>Promise  Roach Killer

Valuespace – Where Customers and Marketers Meet 11/13/2015 Copyright: , Dr. Banwari Mittal, ValueSpace, Inc., Cincinnati, USA. 6 Roach Killer Ad Omitted

Valuespace – Where Customers and Marketers Meet 11/13/2015 Copyright: , Dr. Banwari Mittal, ValueSpace, Inc., Cincinnati, USA. 7 Performance Value-- Performance Value-- Innovations a. Big Breakthru’s b. Tinkering Long shoe horns

Valuespace – Where Customers and Marketers Meet 11/13/2015 Copyright: , Dr. Banwari Mittal, ValueSpace, Inc., Cincinnati, USA. 8

Valuespace – Where Customers and Marketers Meet 11/13/2015 Copyright: , Dr. Banwari Mittal, ValueSpace, Inc., Cincinnati, USA. 9 Tinkering - long shoehorns The Plastic Shoehorn Length is 16 1/4". Assorted colors.

Valuespace – Where Customers and Marketers Meet 11/13/2015 Copyright: , Dr. Banwari Mittal, ValueSpace, Inc., Cincinnati, USA Valuespace -- Performance Value Customization

Valuespace – Where Customers and Marketers Meet 11/13/2015 Copyright: , Dr. Banwari Mittal, ValueSpace, Inc., Cincinnati, USA Customer Valuespace Price Value 1.Fair Price 2. Value Price  Gouging  Tricky price Benefits > Costs

Valuespace – Where Customers and Marketers Meet 11/13/2015 Copyright: , Dr. Banwari Mittal, ValueSpace, Inc., Cincinnati, USA Customer Valuespace Personalization Value 1.Easy Access 2. Rapid Response 3. Relational Nurture  Anytime, anywhere  Quick connect  First contact is right  Understand my concerns  Resolution is quick  Resolution is just  Keep me informed  Recognition  Remember history  Trustworthy  Enjoyable interaction

Valuespace – Where Customers and Marketers Meet 11/13/2015 Copyright: , Dr. Banwari Mittal, ValueSpace, Inc., Cincinnati, USA Customer ValueSpace CUSTOMER PERSONALIZATION PERFORMANCE PRICE Quality Innovation Customization Fair Price Value Price Easy REACH Rapid RESPONSE RELATIONSHIP Nurture 3R’s of Personalization 3P’s

Valuespace – Where Customers and Marketers Meet 11/13/2015 Copyright: , Dr. Banwari Mittal, ValueSpace, Inc., Cincinnati, USA C PS PM PC Q I C FP VP RC RS RL Customer Valuespace Performance –Quality –Innovation –Customization Price –Fair Price –Value Price Personalization –Reach –Response –Relationship UPS O Rosenbluth O SYSCO O

Valuespace – Where Customers and Marketers Meet 11/13/2015 Copyright: , Dr. Banwari Mittal, ValueSpace, Inc., Cincinnati, USA Customer Valuespace Innovation Customer (Sender)UPSRecipient $ Performance –Quality –Innovation –Customization Price –Fair Price –Value Price Personalization –Reach –Response –Relationship UPS O

Valuespace – Where Customers and Marketers Meet 11/13/2015 Copyright: , Dr. Banwari Mittal, ValueSpace, Inc., Cincinnati, USA Customer Valuespace Customization Performance –Quality –Innovation –Customization Price –Fair Price –Value Price Personalization –Reach –Response –Relationship UPS O

Valuespace – Where Customers and Marketers Meet 11/13/2015 Copyright: , Dr. Banwari Mittal, ValueSpace, Inc., Cincinnati, USA Customer Valuespace Price Value To Be or Not To Be? 3 Days From NY to LA Ground or Air ? That is the Question. (5 days – 2 days) Performance –Quality –Innovation –Customization Price –Fair Price –Value Price Personalization –Reach –Response –Relationship UPS O

Valuespace – Where Customers and Marketers Meet 11/13/2015 Copyright: , Dr. Banwari Mittal, ValueSpace, Inc., Cincinnati, USA Customer Valuespace Reach Performance –Quality –Innovation –Customization Price –Fair Price –Value Price Personalization –Reach –Response –Relationship UPS O

Valuespace – Where Customers and Marketers Meet 11/13/2015 Copyright: , Dr. Banwari Mittal, ValueSpace, Inc., Cincinnati, USA Innovations Give Customer New Capabilities Telesuite Performance –Quality –Innovation –Customization Price –Fair Price –Value Price Personalization –Reach –Response –Relationship Rosen bluth O Image omitted

Valuespace – Where Customers and Marketers Meet 11/13/2015 Copyright: , Dr. Banwari Mittal, ValueSpace, Inc., Cincinnati, USA Innovations Telesuite Image omitted

Valuespace – Where Customers and Marketers Meet 11/13/2015 Copyright: , Dr. Banwari Mittal, ValueSpace, Inc., Cincinnati, USA Valuespace for Rosenbluth Customized Suite of Services Reduce Total Spend Call within Europe Enroute Help Got to Try Performance –Quality –Innovation –Customization Price –Fair Price –Value Price Personalization –Reach –Response –Relationship Rosen bluth O

Valuespace – Where Customers and Marketers Meet 11/13/2015 Copyright: , Dr. Banwari Mittal, ValueSpace, Inc., Cincinnati, USA Valuespace for Rosenbluth Performance –Quality –Innovation –Customization Price –Fair Price –Value Price Personalization –Reach –Response –Relationship Sysco O The Spinach Salad story

Valuespace – Where Customers and Marketers Meet 11/13/2015 Copyright: , Dr. Banwari Mittal, ValueSpace, Inc., Cincinnati, USA New Value Proposition: SYSCO Higher Price That Offers Even More Value “A” “B” Image omitted

Valuespace – Where Customers and Marketers Meet 11/13/2015 Copyright: , Dr. Banwari Mittal, ValueSpace, Inc., Cincinnati, USA Valuespace for Rosenbluth Performance –Quality –Innovation –Customization Price –Fair Price –Value Price Personalization –Reach –Response –Relationship Sysco O Response. Personal Delivery Relationship – Ann’s Restaurant Story The Spinach Salad story

Valuespace – Where Customers and Marketers Meet 11/13/2015 Copyright: , Dr. Banwari Mittal, ValueSpace, Inc., Cincinnati, USA Customer Valuespace ComprehensiveComprehensive Non-redundant.Non-redundant. HierarchicalHierarchical SimpleSimple Practical thereforePractical therefore 3P’s of Customer Valuespace Performance Price Personalization MemorizeMemorize 3P’s and 8 Values 3P’s and 8 Values C PS PM PC Q I C FP VP RC RS RL

Valuespace – Where Customers and Marketers Meet 11/13/2015 Copyright: , Dr. Banwari Mittal, ValueSpace, Inc., Cincinnati, USA Customer Valuespace DRIVERS VALUE- CREATING ORGANIZATION Organizational Processes C PS PM PC Q I C FP VP RC RS RL Customer ValueCustomer Value Drivers

Valuespace – Where Customers and Marketers Meet 11/13/2015 Copyright: , Dr. Banwari Mittal, ValueSpace, Inc., Cincinnati, USA Customer Valuespace : Drivers QUALITY Drivers  Defining Quality in Customer Terms.  Brand Standards (Best-in-class)  Deploying Technology, Systems, & Processes for Quality  …….  ……….

Valuespace – Where Customers and Marketers Meet 11/13/2015 Copyright: , Dr. Banwari Mittal, ValueSpace, Inc., Cincinnati, USA INNOVATIONS. Drivers of INNOVATIONS.  Reward Intrepreneuring ….  ….  A Strong Futuristic Orientation Customer Valuespace- Drivers

Valuespace – Where Customers and Marketers Meet 11/13/2015 Copyright: , Dr. Banwari Mittal, ValueSpace, Inc., Cincinnati, USA Customization Drivers of Customization  Mass Customization Production Processes ……  Collaboration DNA  Deep Customer Knowledge Customer Valuespace- Drivers Image omitted

Valuespace – Where Customers and Marketers Meet 11/13/2015 Copyright: , Dr. Banwari Mittal, ValueSpace, Inc., Cincinnati, USA Deep Customer Knowledge * Image omitted

Valuespace – Where Customers and Marketers Meet 11/13/2015 Copyright: , Dr. Banwari Mittal, ValueSpace, Inc., Cincinnati, USA Price Value Drivers  Performance upgrade (Non-commoditization)  Task versus Results indexed  ….  Pricing ethics  Price Value EDUCATION. Customer Valuespace Drivers

Valuespace – Where Customers and Marketers Meet 11/13/2015 Copyright: , Dr. Banwari Mittal, ValueSpace, Inc., Cincinnati, USA Drivers of Personalization Value  Easy Access  Rapid Response  Relational Nurture Customer Retention as Business Model Digitized Customer Database Capability 360 Customer Visibility …. Social Bonding Habits Customer Valuespace Drivers

Valuespace – Where Customers and Marketers Meet 11/13/2015 Copyright: , Dr. Banwari Mittal, ValueSpace, Inc., Cincinnati, USA Customer Valuespace and Firm Performance VALUE- CREATING ORGANIZATION Value-Drivers C PS PM PC Q I C FP VP RC RS RL Q. Can we measure these value components and drivers? Outcomes Firm Level Customer Level

Valuespace – Where Customers and Marketers Meet 11/13/2015 Copyright: , Dr. Banwari Mittal, ValueSpace, Inc., Cincinnati, USA Customer Valuespace Customer View Value Components 2.Self Audit Value Driver Processes A New Measurement Agenda

Valuespace – Where Customers and Marketers Meet 11/13/2015 Copyright: , Dr. Banwari Mittal, ValueSpace, Inc., Cincinnati, USA Customer Valuespace Customer View-- Value Components 1. The product does everything I could wish for. 2. Sometimes I think the product was designed just for me. 3. No other product is as good a value for money as this one. A New Measurement Agenda

Valuespace – Where Customers and Marketers Meet 11/13/2015 Copyright: , Dr. Banwari Mittal, ValueSpace, Inc., Cincinnati, USA Customer Valuespace Customer View-- Value Components 4. I wouldn’t know where to go or whom to call if I needed help on this product. 5. They resolve all my problems as soon as they arise. 6. I enjoy dealing with people at this company. 7. We – our company and theirs-- work in total harmony, caring for our joint interests. A New Measurement Agenda

Valuespace – Where Customers and Marketers Meet 11/13/2015 Copyright: , Dr. Banwari Mittal, ValueSpace, Inc., Cincinnati, USA Customer Valuespace – A New Measurement Agenda Company View (Self-Audit) – Value Drivers. Our brand standards are best-in-class. We are deemed an innovation leader in our industry We have customer specific applications aplenty Our performance/price ratio has an uptrend.

Valuespace – Where Customers and Marketers Meet 11/13/2015 Copyright: , Dr. Banwari Mittal, ValueSpace, Inc., Cincinnati, USA Customer Valuespace – A New Measurement Agenda Company View (Self-Audit) – Value Drivers. Our product development is driven by customer cost targets. We have strong ethics of open and honest dealings. Collaboration with customers in planning common future has a vivid presence. Tales of customer “WOW” abound.

Valuespace – Where Customers and Marketers Meet 11/13/2015 Copyright: , Dr. Banwari Mittal, ValueSpace, Inc., Cincinnati, USA Value Measurement Customer Centeredness PERSONALIZATION PERFORMANCE PRICE Quality Innovation Customization Fair Price Value Price Easy Access Rapid Response Relational Nurture Company ‘A’

Valuespace – Where Customers and Marketers Meet 11/13/2015 Copyright: , Dr. Banwari Mittal, ValueSpace, Inc., Cincinnati, USA Valuespace Measurement Customer Centeredness PERSONALIZATION PERFORMANCE PRICE Quality Innovation Customization Fair Price: Target Costing Value Price: Lean Operations Easy Access Rapid Response Relational Nurture Customer Centeredness PERSONALIZATION PERFORMANCE PRICE Quality Innovation Customization Fair Price Value Price Easy Access Rapid Response Relational Nurture Company ‘A’ Company ‘B’

Valuespace – Where Customers and Marketers Meet 11/13/2015 Copyright: , Dr. Banwari Mittal, ValueSpace, Inc., Cincinnati, USA Mother Driver A Culture of Customer Centeredness Customer Valuespace Customer

Valuespace – Where Customers and Marketers Meet 11/13/2015 Copyright: , Dr. Banwari Mittal, ValueSpace, Inc., Cincinnati, USA Customer Valuespace Valuespace Master Strategy NEW VALUE PROPOSITION Kodak

Valuespace – Where Customers and Marketers Meet 11/13/2015 Copyright: , Dr. Banwari Mittal, ValueSpace, Inc., Cincinnati, USA Selling Camera and films  Helping Customers store, edit, and share memories. Kodak digital services: Print; Store on Web site Photo-edit Quantum Leap in Customer Valuespace Kodak: What business is it in?

Valuespace – Where Customers and Marketers Meet 11/13/2015 Copyright: , Dr. Banwari Mittal, ValueSpace, Inc., Cincinnati, USA Memorize 3P’s and 8 VS Components. 2. This 3-8 VS becomes the Touchstone for all Projects (TQM, Reengineering, Technology deployment, program redesign, staffing, new accounting procedures, etc.) 3. Contemplation of Client’s VS and your role in it.-- Cultivate as “Second Nature.” You and Valuespace --- or How Can You Practice Valuespace C PS PM PC Q I C FP R RS RL VP A. Read the Book!

Valuespace – Where Customers and Marketers Meet 11/13/2015 Copyright: , Dr. Banwari Mittal, ValueSpace, Inc., Cincinnati, USA A Program of Valuespace Assessment. You and Valuespace --- or How Can You Practice Valuespace C PS PM PC Q I C FP R RS RL VP Value Components Value Drivers Self-AuditCustomer Survey

Valuespace – Where Customers and Marketers Meet 11/13/2015 Copyright: , Dr. Banwari Mittal, ValueSpace, Inc., Cincinnati, USA You and Valuespace --- or How Can You Practice Valuespace C PS PM PC Q I C FP R RS RL VP Value Components Value Drivers Self-Audit What percent of my customers would agree: “No other product meets my needs as well as this one (customer)” “I enjoy dealing with my account manager from this company.” Be Ruthlessly Honest

Valuespace – Where Customers and Marketers Meet 11/13/2015 Copyright: , Dr. Banwari Mittal, ValueSpace, Inc., Cincinnati, USA You and Valuespace -- or How Can You Practice Valuespace C PS PM PC Q I C FP R RS RL VP Value Components Value Drivers Self-Audit SELF-AUDIT. On a 0-10 scale rate your company: “Our performance/price ratio has an uptrend.” “We have strong ethics of open and honest dealings.” Ruthlessly Honest Planning

Valuespace – Where Customers and Marketers Meet 11/13/2015 Copyright: , Dr. Banwari Mittal, ValueSpace, Inc., Cincinnati, USA You and Valuespace How Can You Practice Valuespace C PS PM PC Q I C FP R RS RL VP 5.Contemplating Client’s Valuespace and Planning Concrete Action Steps; a.Annual Goals. In What Ways, will we contribute to client’s Valuespace over the next one year? b.Client Visit Goal. What Value am I bringing to client during my next visit? “I look forward to a visit from this salesperson/account executive.” On a Scale of 0-10, current score =6, move to 8.

Valuespace – Where Customers and Marketers Meet 11/13/2015 Copyright: , Dr. Banwari Mittal, ValueSpace, Inc., Cincinnati, USA Valuespace-- Mother driver – Becoming Customer-Centered Hangout with the Customer Image omitted

Valuespace – Where Customers and Marketers Meet 11/13/2015 Copyright: , Dr. Banwari Mittal, ValueSpace, Inc., Cincinnati, USA You and Valuespace C PS PM PC Q I C FP R RS RL VP Goal: Over next three months: On a scale of 0-10, I am going to move myself from 5 to 7 in how well I understand this customer’s Valuespace— concerns and hopes in relation to using my product. Hangout with the Customer Image omitted

Valuespace – Where Customers and Marketers Meet 11/13/2015 Copyright: , Dr. Banwari Mittal, ValueSpace, Inc., Cincinnati, USA You and Valuespace C PS PM PC Q I C FP R RS RL VP Make your customer your partner in helping you gain “deep customer knowledge.” Hanging out with the Customer has one problem: Why should the customer let you hang out? Hangout with the Customer Mutual Trust Image omitted

Valuespace – Where Customers and Marketers Meet 11/13/2015 Copyright: , Dr. Banwari Mittal, ValueSpace, Inc., Cincinnati, USA You and Valuespace Executioner of “Client- projects” or a Sales Account Management Resource for Bringing “Deep Customer Valuespace Knowledge” Internally to the Organization Planning C PS PM PC Q I C FP R RS RL VP

Valuespace – Where Customers and Marketers Meet 11/13/2015 Copyright: , Dr. Banwari Mittal, ValueSpace, Inc., Cincinnati, USA Customer Value It is the be-all And the end-all Of all business activity. The only purpose Of all organizations. It is the only justifiable goal Of all reengineering, Organizational renewal. Entrepreneurship, And corporate innovation. And it is the only path For sustained growth, And for winning the battle For market leadership. -- ValueSpace Customer Loyalty How do you win it? Business gifts, frequency rewards, Corporate hospitality events— These are mere icing. Customer retention As business model, An unwavering ethic of Non-opportunistic behavior, A human face on customer Interactions, And, most important, A myopic obsession With customer value innovation – On these four pillars Are lasting Customer relationships founded. -- ValueSpace

Valuespace – Where Customers and Marketers Meet 11/13/2015 Copyright: , Dr. Banwari Mittal, ValueSpace, Inc., Cincinnati, USA Thank you very much. Your ValueSpace & I (ban mittal)