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

Development of relationship marketing, Question 1: (a) Discuss the infl...

Question 1: (a) Discuss the influences that led to the development of relationship marketing. (b) Using appropriate theories, discuss why the marketing mix paradigm and the

Describe the key characteristics of consumer motivation, Question 1: Co...

Question 1: Consumers must constantly make decisions regarding what products or services to buy and where to buy them. Because the outcomes of such decisions are often uncertai

Types of brands, Types of Brands According to ownership: on the basis...

Types of Brands According to ownership: on the basis of the ownership, brand may of two types: Manufacturer brand: when brand is named after the name of the manufacturer

Give the example of marketing communications mix, Give the example of Marke...

Give the example of Marketing Communications Mix For instance, there has been a dramatic rise in the use of direct-response media as direct marketing becomes adopted as part o

Use of pareto principle, 1. How do you use the indicators on your car dashb...

1. How do you use the indicators on your car dashboard? It's worth taking a moment to think about how the car's performance (KPIs) is conveyed through the dashboard of the car. Thi

How relationship can be improved, How Relationship can be Improved:- 1)...

How Relationship can be Improved:- 1) Not advertising for instant competitive units of its clients. 2) Previous approval of client for all expenditure incurred. 3) Making

What are the factors to determine the consumer behaviour, What are the fact...

What are the factors to determine the consumer behaviour? Consumer Buying Dynamic or Determinants of Consumer Behaviour: There are four factors which determine the consum

Marketing, what are the core marketing concepts?

what are the core marketing concepts?

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