Defining Product Value in Industrial Markets

The search for a better grasp of the what, why and how of product value is analogous to the quest for the Holy Grail. Just when you think that you finally have a handle on it, the mirage fades away and another appears on the horizon, full of hope. So go our efforts to understand customer valuation of products. There exists a value definition at every turn, but one is never too sure how they all fit together (if they do at all!). This article attempts to reconcile the various definitions in the search for an operational framework of product value.