Marketing , Customer values and the Interrelationship Between them

1456 Words Jun 19th, 2018 6 Pages
Marketing plays a vital role in the failure or success of a business. Marketing is often misunderstood as the selling and promotion of products via commercials, advertisements and sales calls. However, selling and promotion is only one of the important aspects of marketing (Kotler, Shaw, FitzRoy & Chandler, 1983). Therefore, it is essential for businesses to fully understand hot marketing affects them. This essay will further explore marketing as a business philosophy, the customer values provided and the link between the two with the use of Village “Gold Class” Cinemas specifically to illustrate these concepts. Village “Gold Class” Cinemas is a unique premium site that is designed to provide customers the best experience whilst the whole …show more content…
Customer value can be defined as what the customer obtains or benefits from the purchase and use of a product versus what they pay for or sacrifice (Gale 1994; Heard 1993-94; Zeithaml 1988). There are four types of customer values, for instance the functional or instrumental value, experiential or hedonic value, symbolic or expressive value and cost or sacrifice value (Smith & Colgate, 2007).

The functional value also know an as the instrumental value refers to the extent of which the product has preferred characteristics, is useful or performs as expected (Smith & Colgate, 2007). Woodruff (1997) suggested that there are three aspects of the functional value. The first aspect is that the product has the right, accurate and appropriate features, functions or characteristics. Secondly, the product should carry out useful and appropriate performance. The last aspect of the functional function is that there are appropriate outcomes or consequences such as effectiveness and operational or environmental benefits. Village “Gold Class” Cinemas has successfully provided their customers with all aspects of the functional value. The appropriate functions of the service are comfort from the luxuriously intimate setting, food, beverages, service and “super-wide wall-to-wall screens”. The appropriate performance values are first class quality films with the latest in digital picture and audio and personal waiter service. (Village Cinemas, 2013)
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