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

Ethical marketing and corporate social responsibility, Question 1: (a) ...

Question 1: (a) The Chartered Institute of Marketing describe marketing as "the management process responsible for identifying, anticipating and satisfying customers' requireme

Define the size of ad-budget, Q. Define the Size of Ad-Budget? Size of...

Q. Define the Size of Ad-Budget? Size of Ad-Budget : If amount of advertisement budget is more at that time costly media like national dailies, television and popular magazine

Functions of marketing, hi 1. Discuss the functions of marketing beyond adv...

hi 1. Discuss the functions of marketing beyond advertising and selling 2. and why is it important for non-marketing employees to have a better understanding of marketing function

Explain about the consumer behaviour studies, Explain about the consumer be...

Explain about the consumer behaviour studies. The consumer behaviour studies which how individual organization and groups select buy employ and dispose of goods and services, e

State the size and geographic dispersion of target audience, State the Size...

State the Size and Geographic Dispersionof target audience Final characteristic concerns the size and geographic dispersion of target audience. A consumer audience, often nati

Financial crunch involved in tourism to reshape, discuss the strategies inc...

discuss the strategies including digital strategies that you would recommend to a business to mitigate the effect of this crisis

Management of the promotional tools, Management of the Promotional Tools ...

Management of the Promotional Tools Traditionally, each of the promotional tools has been regarded as domain of particular groups within organisations: 1. Personal selling

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