Customer Satisfaction and Value

Are customer satisfaction and customer value interdependent or mutually exclusive? Can satisfaction occur simultaneously with low customer value?

I feel that the linkage between customer value and satisfaction depends on the particular product/service that is being provided. In the case where the two are interdependent would be a product that not only fulfills an immediate need, but continues to provide quality service for an extended period of time allowing the customer to place value into the product. An example of this may include that of a newly purchased car, which satisfies the immediate need of transportation, but establishes it's value in its ability to perform in the long-term; accompanied by customer support (i.e. manufacturer repair shops where they strive to maintain your vehicle, so when it comes time for a new car, you will have already established a strong customer relationship).

However, I believe it is possible for the opposite to occur as well, where as the customer is satisfied, but places no true value into the product. An example of this could include buying a pizza cutter from the dollar store. The pizza cutter will satisfy the immediate need of cutting a pizza to eat, but will most likely do a poor job completing the task, and in addition will have a short product life. Although the store has provided you with a cheap product when you needed it, the actually end product does not have any real value to the consumer, and will often be thrown away shortly after its purchase.

 Therefore the store has not truly provided it's customer with value, for instance would the same customer come back and by another pizza cutter knowing the last one broke so easily; or would they shop somewhere else where they could spend slightly more and have a product with a longer useful life?