Book excerpt: In the tradition of the bestselling The Discipline of Market Leaders, business professors and consultants Banwari Mittal and Jagdish N. Sheth describe a dynamic new value-based approach to achieving market dominance they call ValueSpace—the space that great companies create to deliver their customers the greatest value. Based on the findings of an in-depth study for the prestigious Marketing Science Institute of the top 10 companies on Fortune’s Most Admired Companies list, Mittal and Sheth show that value is the “missing link” in achieving enduring customer loyalty, and that the three main components of customer value are performance, price, and service. With the help of fascinating case studies from UPS, 3M, Caterpillar, Xerox, Fossil, and other “most admireds,” Value Space explains why and how companies in all business sectors that excel at delivering customer value are invariably the market leaders. It outlines a complete program for achieving long-term success by more effectively managing the 9 organizational processes that drive performance, price, and service.