Build an expectation model through the focus groups that will be used for Step 2 (below). Using data from the focus groups, further hone the CVM approach to a dual qualitative and quantitative approach to very select clients (database will be purchased); send out survey with goal of at least 10% returns. Provide small incentive (cash, coupon or gift card approach to encourage participation).

Analyze data, use data to rehone the value relationship that these clients want, encouraging feedback for future strategic decisions (Farace, 2007).

Conclusions - Value means many things to many people at all income and demographic / psychographic levels. Certainly, no one wants to pay more than they have to for a particular project. However, certain items flow well into good value, CarnivorTrue, being ideal. If we use a CVM value table for the product, we find that Watts' ideas are valid and with research focus, appropriate for future development:

Issue

Primary Attribute

Secondary Attribute

Tertiary Attribute

Cost Allocations

Product Features

Baked, provides 100% nutritional value based on breed and type (cat vs. dog)

Accuracy, bioavailability

Uses nutrients to save on vet procedures (teeth, ears, etc.)

High end operating costs

Product Quality

Organic, all natural, range fed when possible, USDA top level sourced

Verifiable sourcing

Virtual tour of farms and ranches

Operating, maintenance, marketing costs

Service

Unique account manager...

(November 12, 2008). Knowledge at Wharton Marketing. Retrieved from: http://knowledge.wharton.upenn.edu/article.cfm?articleid=2091
Caldwell, L. (a) (September 9, 2008). Client Value Management, Customer Value Management, and What is Value? Knowing and Making. Retrieved from: http://www.knowingandmaking.com/2008/09/client-value-management-customer-value.html

____. (b) (August 9, 2008). Business: Is CVM the new CRM? Eacademy. Retrieved from: http://www.ecademy.com/node.php?id=109905

Farace, V. (2007). Measuring and Managing Customer Value in the Marketplace. Satmansys.com. Retrieved from: http://www.satmansys.com/downloads/Measuring%20and%20Managing%20Value%20in%20the%20Marketplace%20v2.pdf

Hafiz, K. And Hendricks, S. (2001). Customer Value Management. Houston, TX: American Productivity and Quality Center.