What is consumer value?

What is consumer value?

This is very relevant concept. I think following description will help you in understanding this concept.

Consumer value is a marketing and business concept that attempts to analyze the satisfaction received by a customer from a purchase. More importantly, it tries to analyze the likelihood that the consumer will become a repeat customer providing ongoing business for the firm. Businesses analyze "customer value" in an attempt to solidify a customer base, study product performance and to market the product more effectively.