Marketing and customer value, Marketing Management

MARKETING AND CUSTOMER VALUE

Creating and delivering better customer value is the only route by which firms implement the marketing concept. Customer satisfaction is the central theme of the marketing concept and it is practising the marketing concept consistency maximize the customer value in their efforts offer. In fact, one can say that the creation and the delivery of customer value is the essence of the marketing.

The marketing concept gets executed through value delivery: as we know that the marketing concept aims at the satisfaction of the customer. We have now seen that the satisfaction emanates directory from the value that the firm delivers to the customer. It will thus be clear that the marketing concept gets executed through the value of the delivery process. The firm searches and finds out what benefits are sought by the customer and build them into its that the satisfaction emanates directory from the value that the firm delivers to the customer. It will thus be clear that the marketing concept gets executed through the value delivery process. it means that the customer feels his expectations concept of value have been met at the end of the purchase process. In other words, the marketing concept gets implemented when a firm searches for the benefits sought from it by the customer and builds then into its offer. To put it more a succinctly, the marketing concept is in operation when a firm satisfies the customer by offering superior value compared to competing offers. The customer's expectations are the clues to the value to be offered. The firm conducts detailed analysis of the market, the customer and competitions. Buyer analysis, market research and marketing planning are the tools through which the firm acquires these insights.

The firm builds benefits value into the market offer: the firm has incorporates the benefits that it wants to provide to the customer into the market offer. The firm has a value creating and value delivering system. it includes the firm's production facilities, processes, organization, expertise, etc. suffice to say here through its value creating and value competing offer from a competitor is another such bundle.

By adjusting any element of the mix, value can be enhanced: the firm can enhance value by adjusting any of the elements of the marketing mix. For example, it can enhance value through.

1.      Increasing the functionality of the product

2.      Reducing the price

3.      Giving better service support

4.      Giving the customer easy access to the product

5.      Offering beneficial communication              

When the firm ingeniously uses all the elements of the marketing mix for providing more value to the customer, it becomes a winner in the market. And, offering such value is the essence of a winning marketing strategy.

Posted Date: 9/19/2012 3:35:27 AM | Location : United States







Related Discussions:- Marketing and customer value, Assignment Help, Ask Question on Marketing and customer value, Get Answer, Expert's Help, Marketing and customer value Discussions

Write discussion on Marketing and customer value
Your posts are moderated
Related Questions
Create a demand schedule and a supply schedule for your product. Using these schedules, draw a demand curve and a supply curve using PowerPoint or Excel. Use these to deter

Market strategy: Meaning & definition: marketing strategy of a firm is the complete and unbeatable plan or instrument designed specifically for attaining the marketing object

Producer Price Index This is a measure of the prices of all goods produced in the United States. Unlike the CPI, the PPI is comprehensive and includes all goods produced exclud

Explain the term - Promotion Promotion refers to process of informing and persuading the consumers to buy certain product. By using this process, marketers convey persuasive me

Q. Message - Source of advertisement? Message-Source:- Person who converse the message of advertiser to the target audience. Also known as brand-ambassador instance sport

how was the need for this product identified?

Nature of the marketing: 1.      Specialized business function: in the early days, the selling function did not call for any specialized skills as the sales could have been a

Question 1: (a) What is meant by the term knowledge culture and what are the factors that influence it? (b) Discuss the view that the knowledge culture in all organisation

Starbucks has a wide range of target markets across the world. However, this might differ based on the usability level of the product. This project is designed targeting on the you

various approaches to test marketing