Value-Based Marketing: Creation, Delivery, and Evaluation

The company knows the demands of the customers and they are well orientated in the service and the knowledge of the products and this is the element that makes them prosperous. Jean’s Rare Find Books belief in customer service and satisfaction enables a comfortable and peaceful atmosphere and in return produces a strong customer loyalty for the company. Customer satisfaction and customer retention externally and internally is measured by the perspective of the customers and thus implements the reason for the company’s prosperity. Customer perspective is a key factor on how the customer views the company.

Today’s world competition is very strong in every kind of businesses. Every organisations must provide high quality products or services in order to survive, however their competitors also providing the same or comparable products or services. An important way to an organisation to get an edge over its competitors is to provide extra service to satisfy and delight their customers, which can retain them and also gain new customers. Therefore the achievement of customer satisfaction must be a major objective in all organisations.

The essence of marketing is value creation, where the goal is a long-term satisfaction by building relationships and attracting new customers by offering better value than the competition. Because marketing is based on exchanges where the objective is for all parties in the exchange to feel satisfied and gain some kind of value (Jobber and Ellis-Chadwick, 2013).

Effective value chain as a competitive advantage can contribute significantly to the prosperity of a firm in the competitive arena, but it can cause dire situations if not operated properly (Guy, 2011). However, there are conflicts among companies as to how stakeholders think they gain competitive advantage. Porter (1996) suggests: A company can outperform rivals only if it can establish a difference that it can preserve. It must deliver greater value to customers or create comparable value at lower cost or do both.

The value chain is one of the critical elements of a company’s strategy in today’s competitive world, because company’s profit depends on how the successful and efficient it runs its operations and how the end product appeals to the customers at a price that covers all the expenses of the company.

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.

The value chain is one of the critical elements of a company’s strategy in today’s competitive world, because company’s profit depends on how the successful and efficient it runs its operations and how the end product appeals to the customers at a price that covers all the expenses of the company.

For any business unit, value creation will be the most important goal. Giving out values for the customers will increase in the sales along with the services and for shareholder’s, values will be generating in the method of development in stock prices, will make sure that there will be investing in funds in future. From financial insight, values are meant to be formed when an organization will have revenue, which exceeds the expenses.

Marketing is a management function which involves creating, communicating and delivering value for an organisation’s customers (Kotler, Brown, Burton, Deans & Armstrong (2010). Although many earlier academics define marketing as merely a process of satisfying customer needs in order to gain profits, more recent developments of the definition include its inherent connection with delivering superior value to customers in order to maintain ongoing relationships (Webster, 1992).

Customer satisfaction and service quality are the two important components that direct anyone’s attention in every concept related to marketing, services, etc. (Spreng and Mackoy, 2006). In today’s competitive era, the success lies in

This report aims to find out the relationship between customer value and marketing. In particular, it focuses on the necessity of marketing and the composition of customer value, research on the connection between these two concepts. In particular, it indicates four elements of a market, which are price, place, products, and promotion (4Ps). The other vital part of a market is customer value, it has been divided into instrumental value, hedonic value, expressive value and cost value. Customer value and marketing connect to each other through the supplier help people do better- buying decision and improve products through the customer value.

customer satisfaction is the sensation or attitude of a customer towards a product or service afterward it has been used. For

There are two main approaches that are used by companies: the Marketing approach, named 4Ps (Product, Price, Promotion, and Place) and the Value approach (creating, exchanging, Communicating, and Delivering). The first target accent on the product and the second target the customer. The advancement of technology has changed the way to promote products. There has been a shift from a traditional approach where the product was showcased to a new approach centered on the customer and his needs. For some companies it is imperative to focus more on the consumer seeking to understand his behavior towards new products to better conquer the market.

Kotler & Keller (2008) build on this definition, stating that customer satisfaction is determined by “the degree to which someone is happy or disappointed with the observed performance of a product in relation to his or her expectations”. Performance that is below expectations leads to a dissatisfied customer, while performance that satisfies expectations produces satisfied customers. Expectations being exceeded leads to a “very satisfied or even pleasantly surprised customer” (Kotler & Keller, 2003, p. 80).

MGT665 – Individual Assignment Main theme The paper revolves around the migration of the value within the supply chain as industries and technologies evolve. The basis of which can be traced down to the changes occurring in the patterns of consumer behaviour. But the changes in consumer patterns does not necessarily result in the value being shifted from one stakeholder to other; rather it is purely a function of the type of industry and how it has evolved over the years. Idea in Brief Argument Successful Companies do four things well: Problem Lessons