Customer value refers to: a statement that, before product development begins, identifies $(1)$ a well$-$defined target market; $(2)$ specific customers needs, wants, and preferences; and $(3)$ what the product will be and do to satisfy consumers. the unique combination of benefits received by targeted buyers that includes quality, convenience, on$-$time delivery, and both before$-$sale and after$-$sale service at a specific price. the cluster of benefits that an organization promises customers to satisfy their needs. the need of a customer to receive the highest qual