Title: Understanding Customer Value in Business Strategy

Objective: This assignment examines customer value in the context of business purpose and mission, focusing on value diversity among client categories.

Please provide a written explanation answering the below questions:

Why is understanding value considered crucial for defining business purpose and mission.

What are some reasons why managers would be reluctant to ask customers questions about the value the business holds in the consumers$$ eyes?

Discuss the complexity of determining what customers consider value, emphasizing the need for a systematic approach to gather customer insights.