Explain about the concept of value, Marketing Management

Assignment Help:

Explain about the concept of value.

Concept of Value:

Various customers look for different benefits from identical product. Thus, the value of a product differs by one customer to other. Value to a customer refers to the dissimilarity among the benefits he derives from the product or service and the cost of getting the product. The customer is happy while the benefits and the cost match. The extensive the gap among the cost of acquisition and the derived benefits, the happier the customer is. Elements like buyer analysis, market planning and market research are helpful into indenturing and measuring the value customer’s specialist. A high customer value plays a very important role in generating customer loyalty since customers compare the value cost gaps of the competing gives and select the products which delivers the maximum value to them.


Related Discussions:- Explain about the concept of value

Test Marketing, Explain the various approaches that are followed by FNCG co...

Explain the various approaches that are followed by FNCG companies in test marketing

Total quality management , TOTAL QUALITY MANAGEMENT (TQM): Total Qual...

TOTAL QUALITY MANAGEMENT (TQM): Total Quality Management (TQM) is focussed on the requirements of the customer. A library patron or user is a customer. He or she is demanding

Effect of discounting prices, Effect of Discounting Prices Another sign...

Effect of Discounting Prices Another significant function of a marketing manager is to find any discounting of prices of the goods and services of a business. Every business di

How are fewer buyers affected in business-consumer market, How are fewer bu...

How are fewer buyers in business market and the consumer market affected? Fewer Buyers: Within business market, buyers are fewer in number while compared to consumer market.

Major sale promotion desicion, what are the major sale promotion ssuold kit...

what are the major sale promotion ssuold kitkat use to attempt to increase sale of kitkat?

Marketing process, Marketing Process Once the strategic plan has descr...

Marketing Process Once the strategic plan has described the company's total mission and objectives, Marketing plays a vital role in carrying out these objectives. The marketin

Advertising campaigns , advertising campaigns and there work in developing ...

advertising campaigns and there work in developing awareness among public

Develop a strategy for work plan, Develop a strategy to help work teams imp...

Develop a strategy to help work teams implement change       1. Develop a work plan including timetable, key performance indicators, training needs, occupational health and safe

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd