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

Importance of the study of the consumer behaviour, Importance of the study ...

Importance of the study of the consumer behaviour: in olden days, the importance of consumers behaviour was not realized because it was sellers in the olden days, the importance o

Introduction to channels of distribution, Channels of distribution Mea...

Channels of distribution Meaning and definition: a major focus of channels of distribution is delivery. It is only through distribution that public and private goods and serv

Direct marketing, DIRECT MARKETING: Meaning: direct marketing (DM) is...

DIRECT MARKETING: Meaning: direct marketing (DM) is the process by which a firm approaches its customers on one to one basis and markets its products directly to them. In con

Marketing plan, A marketing plan is one of the significant element when an ...

A marketing plan is one of the significant element when an entrepreneur intend to start a new venture, therefore a marketing plan are the written statement of marketing strategies,

Challenges facing a customer centric organization, The world is changing dr...

The world is changing dramatically with the internet becoming increasingly the panacea for all things that touch the customer and the customer-facing processes. However an enterpr

Marketing information system, Marketing Information System To perform ...

Marketing Information System To perform their marketing responsibilities, marketing managers need excellent deal of information. "Information is power" is a legal statement. I

What is concept testing strategy development, What is Concept Testing Strat...

What is Concept Testing Strategy Development? Concept Testing: To estimate ideas properly. This may be essential to test product concepts testing is a phase in that a sma

Various types of marketing environment, Q. Explain various factors in marke...

Q. Explain various factors in marketing environment & tell about the need to analyze the marketing environment? Ans.: Purpose of marketing environment analysis are followin

Mass marketing, Mass Marketing Mass marketing includes the mass product...

Mass Marketing Mass marketing includes the mass production, distribution, and the promotion of one product for all buyers.

IIBM Assignmen, what are the significant factors that have led to the succe...

what are the significant factors that have led to the success of shoppers’ stop

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