Customer value refers to the perceived benefits that a customer receives from a product or service compared to its cost. It encompasses various factors, including quality, convenience, and customer service. When customers believe they are getting more value than what they pay for, they are more likely to remain loyal and make repeat purchases. Businesses strive to enhance customer value by understanding their customers' needs and preferences. This can involve improving product features, offering competitive pricing, or providing exceptional customer service. Ultimately, delivering high customer value can lead to increased satisfaction and long-term success for a company.