Customer satisfaction and customer value are technically two separate concepts, although they are interdependent with one another. Customer value requires a business to earn and gain the customers trust with both products and/ or services that are reliable. In order to do so, businesses need to supply facts and reasoning on their products to back up their pricing. Also, they should offer their products and/or services at prices that are realistic in order to ensure the customer that they're getting exactly what they are paying for. Once these requirements have been met, the customer will then feel as though they are valued and can trust the business they are purchasing from.
Customer satisfaction, on the other hand, requires businesses to meet customers needs as well as meeting their expectations of a product. Customers may get hooked on a companies service at first glance, but the company may not exceed the expectations that the customer initially had in the first place, leading to customer dissatisfaction. With customer satisfaction, the main idea is not to sell products, but to keep customers content with what they are receiving. With that said, customer value and customer satisfaction do relate in a way because they are both concerned with what the consumer wants and needs, rather than solely having a sales or production orientation.
Satisfaction can occur simultaneously with low customer value in certain situations. Many customers buy products at low prices primarily due to the price. A large amount of them understand that if they are getting a product that is half the price as the same product being sold somewhere else, the value is probably not very high.
