Smiggle Marketing Approach and Analysis

What is value? For everyone, it is different. In business, what do we value? Do we value our client? Do we value our company? Do we value our products? In respect to business world relationships and “good” relationships, they are built on trust—that is definitely a value (in my opinion), especially in the business world. As a Starbucks barista, customers value their barista. I have seen it, and I can say that I know a lot more about a customer’s personal life than I ever thought I would when I was first employed with the company. Customers will come in at the same time when the same barista is working because they are having service done by someone that they can trust. There is a value between the two, and the customer definitely sees the barista as a giver (a giver a great customer experience/service). In a greater perspective of this book, good business relationships are not built on the product, but more so the service that the company has to offer—they are built with the person that is offering whatever product it may be that the company is offering. Sure, products may be a value to someone else, but the extra added value would be the relationship; the seller needs to be able to add the extra

Before i go further let me touch on a brief introduction on customer value, customer value can be defined as the difference between what a customer gets from a product and what he or

Please think of a time when you were required to create value for a customer. Briefly describe the situation, the process you used to determine the client’s needs, and the actions you took to ensure that the client was satisfied.

Having customer value is very important. Customer value is determined by customers’ perception of what they get in exchange for what they have to give up. In order to meet the buyer’s expectations, the salesperson must be fully honest and lead the buyers at their best interests and needs.

As the company continues to evolve, it still stays true to its attractive qualities that have earned millions of loyal customers around the world. They have a commitment to quality. By only carrying 4000 stocked units in the warehouse, compared to 30,000 at your local super market, it can carefully choose its products. This insightful selection is based on quality, price, brand and features. Therefore, having the ability to offer the ultimate best value to its members.

This report based on the study of “Customer Value Marketing” starts with introduction section. We have mentioned the contents of the study in objectives of the report section.

In lecture it was discussed that the product itself is important because the customer has a say in whether or not it lives up its expectations, its perceived value plays a huge role and it could affect the company's objectives. Ski Butternut is a for profit company and in order for it to reach profit maximization, it has to work with what it can change. Unfortunately, the weather is an external factor that they cannot control, however, they can make changes to its product. In this case, the company offers an experience, and the pricing is adjusted by what it provides to the customers, in the end, the value of the experience is what they are paying for. 2.

Zeithaml (1988, as cited in Smith & Colgate, 2007, p. 8) defined customer value as

The team gathered a wealth of information about the products strengths and weaknesses, but lacked important consumer­brand relationship information. Supplementing the Consumer Insight Team research with the Usage and Attitude Study provided a well rounded customer understanding.

Improving customer service, offering them the best selection, quality, and value (Company History, n.d.) is at the core of the business. The company is committed to the customer’s experience and tailors the business “through the eyes of our customers” as “listening to the customer has never been more important” (Annual Reports, 2014). Additionally, the company offers a variety of brands and services to serve

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).

Back in the olden days, the success of an organisation was determined by the quality nature of products they provided their customers. It was believed that customers were ignorant and did not know exactly what they want and therefore accepted whatever was given them; thus the final decision rested on the producer or service provider. The case however, in today’s business environment is the reverse of the above mentioned. Due to technological advancements, increased competition and the fact that people have become more informed and knowledgeable, customers now determine exactly what

According to Harps (2002) Grainger continually reinvents itself to meet the changing needs of its customers. One example is that customers have the option to “call”, “click”, or “stop by” to order product. Another significant change has been the explosive expansion of the product line since 2001 – from 100,000 to over 188,000 in 2008.

Every organisation requires a mission. The mission is reason for an organization for being in the business. By defining the organization’s mission, forces managers to carefully identify the scope of its products or services (Robbins and Coulter, 2005). M&S has defined their mission as, “To make aspirational quality accessible to all” (M&S, 2009). Marks and Spencer’s have been known for their quality value, service, innovation and trust to all their customers who as a company they have stuck to very well. They are continuing to attract new customers as well as

Aiming on customer loyalty, superior value must be delivered along with the superior performance. Narver and Slater (1990) said there are 5 components which composed those things, which are: