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

What are aspects of activities use in green marketing, What are aspects of ...

What are aspects of activities use in green marketing? At workshop of green ecological marketing was explained as the study of the positive and negative aspects of activities

Personal selling, Personal selling: Meaning & definition: Personal se...

Personal selling: Meaning & definition: Personal selling is unique as it is a face to face transaction between a salesman and a prospective customer. Evidently, a well traine

Factors affecting the choice of distribution channel, Factors affecting the...

Factors affecting the choice of distribution channel Choice of an appropriate distribution channel is very significant as pricing as well as promotion strategy are dependent up

Production scheduling system, Create a context and Level 0 diagram for a Cl...

Create a context and Level 0 diagram for a Clothing store production scheduling system. The purpose of the production scheduling system is to respond to the Production order(sub

Differential between old and new concept of the marketing, Differential bet...

Differential between old and new concept of the marketing Basic of difference Old concept of the marketing New concept of the marketing

Explain the role of managers in marketing communication, Explain in role of...

Explain in role of managers in marketing communication Managers are now required not only to find new ways to communicate but also to do so on reduced budgets and they should a

Describe the various pricing methods, Question 1: What are the purposes...

Question 1: What are the purposes of a Food & Beverage control system for a first class medium-size hotel running 3 (three) Food & Beverage outlets including room service?

Organizing sales promotion compagins, Organizing sales promotion compagins ...

Organizing sales promotion compagins 1.       Identifying the requirement: the first requirement is to identify the specific requirement of the firm in resg orting to sales p

Market efficiency, Market Ef ficiency Market efficient is a mar...

Market Ef ficiency Market efficient is a market in which the prices of the assets or privacies fully reflect all available information. When new information comes wh

Advantages of product branding to producers, Advantages to producers 1...

Advantages to producers 1.       Easy to advertise: when the product or producers of an enterprise are marked with a particular brand, it makes very easy for the enterprise

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