Provide a definition of customer value

Assignment Help Marketing Management

Reference no: EM132363494

Marketing Management Assignment -

Overview of the Assignment - Critical to marketing are the concepts of:

1. Customer value-the value the organisation provides customers; and

2. Value proposition-in brief, that bundle of 'things' that an organisation provides its customers (segments) that encourages customers to buy more, be loyal and recommend its products/services.

There is another customer value concept but it's from an organisation's perspective, i.e. the financial value the customer generates for the organisation. In this course we will only touch on this concept rather than delve into it as it is worthy of a specialised course by itself.

The individual assignment requires you to gain a firm grasp of customer value and value proposition by reading the assigned journal article, referring to other relevant articles and texts on these topics, answering questions about the Office Depot case and conducting your own 'research' about the value provided by the supermarket you shop at. The Office Depot case will be discussed in class.

If marketers can identify the correct target segments and have a deep understanding of these customers, e.g. what value they seek, then they should be able to construct an appropriate value proposition so that the firm develops, communicates, prices and delivers the value its customers are seeking. Being able to consistently deliver the desired value, above and beyond what competitors provide will give rise to a competitive advantage, and ultimately, to far better financial returns (profits and/or shareholder value).

Assignment: Customer Value and Value Proposition

Requirements - Read the following article.

Hassan, A. (2012). The value proposition concept in marketing: How customers perceive the value delivered by firms-a study of customer perspectives on supermarkets in Southampton in the United Kingdom. International Journal of Marketing Studies, 4(3), 68-87.

Download from Google Scholar. Note that the article refers to a number of appendices which are not provided with the article BUT whilst you should read the entire article the main sections are from the Results (p. 78) to the end of the Conclusion (p. 83).

You will discuss in class the Office Depot case and there are a number of questions that will help you understand how a retailer (and a supermarket) can provide value to customers.

You should also identify and gather the key points from at least another three sources (journal articles and/or recent marketing texts) on the concepts of customer value and value proposition. DO NOT use references like marketingprofs.com-these are not acceptable in academia. Customer value in this instance is the value provided to the customer and NOT the financial value generated by customers for the firm.

With the knowledge you glean from the above activities you are to.

1. Provide a definition of customer value-discussing whether there is one accepted definition or there are variations.

2. Provide a definition of a value proposition-discussing whether there is one accepted definition or there are variations.

3. Explain why both concepts are critical to a firm's financial success.

4. Provide a summary of the means by which the UK supermarkets deliver value to their customers.

5. Nominate the supermarket you regularly shop at and describe how it provides (or does not provide) the value you seek from a supermarket.

6. Describe one of your supermarket's customer segments-what value does this segment seek and discuss whether the supermarket delivers it. This segment is to be one that you are NOT representative of.

7. Review its website and describe how it communicates customer value and its value proposition (as per the nominated journal article).

8. Make feasible recommendations to your supermarket on how it could provide better value to you that would enhance your shopping experience and build your loyalty.

Here's some examples of the feedback and tips that are important to keep in mind:

1. You are asked to discuss customer value and value proposition concepts

a. Do these separately

b. Obtain three definitions of each concept

c. DISCUSS-look up what this means for an academic paper. This is covered in the General Guide to Writing and Study Skills which is accessed in Moodle by clicking on Study Help, then from the dropdown box select Writing guides

2. For the value provided by UK supermarkets you should write about how each of them provides value

3. Describe how the supermarket you shop at provides or does not provide you with value

a. This should be based upon the UK article and what was learned from the Office Depot case, and any other readings you examined to do this assignment

b. Doing this will help you make feasible recommendations (pt. 8 above)

4. Your recommendations should be based on what you found as you addressed all the required tasks (pts 1 to 7 in the list above) and not just 'plucked from the sky'.

5. Make sure you read the file on Moodle about writing an Executive summery-this is worth 16% of the total marks so just writing a half a dozen lines that reads like an Introduction will earn you maybe 0.5 marks or 1 mark at the most.

6. Look at the Assessment Criteria Sheet-use it as a checklist-it does not have a Conclusion so DO NOT provide one.

Assessment Task One Format and Requirements - Customer Value and Value Proposition

Title page

BUMKT5902 Marketing Management
Berwick, Semester 2, 2019
Individual Assignment-Customer Value and Value Proposition
Your name. (If you are an international student and also have an English name please write both names)
Your student ID
The Due Date and Time
Submitted to (lecturer's name here)

Executive Summary (not part of word count)

Introductory sentence/short paragraph
Major Findings
Major Recommendations

Table of Contents

Introduction

Background to the task
Purpose of the report
Format of the report

Customer value

Value proposition

Explanation of why the concepts are critical to a firm's financial success

How UK supermarkets deliver value

How your supermarket delivers value to you

One customer segment at your supermarket and the value it seeks

How value is communicated via your supermarket's website

Recommendations

References

Appendices

Attachment:- Marketing Management Assignment File.rar

Reference no: EM132363494

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Reviews

len2363494

8/30/2019 10:08:53 PM

This document contains the details for the individual assignment for BUMK5902 Marketing Management for Included are aspects such as: The assignment requirements; How they meet the Learning Outcomes—refer to the course description; How the assignments are to be formatted; and How it will be assessed by using an Assessment Criteria Sheet. You must read this in conjunction with the Course Description which contains other pertinent information on submission, etc. It is your responsibility to fully acquaint yourself with these requirements. If you are not clear on any aspect please speak with your lecturer.

8/30/2019 10:08:45 PM

General Formatting Requirements for the Report - For those students who are unfamiliar or do not feel confident with academic writing, there are a number of sources on the Federation University and Library websites. Broadly speaking, the formatting of assignments should adhere to the following requirements: Report format—business (not an essay) Follow the headings outlined under the Assignment Instructions section. Use a report Title page containing all of the relevant information. The Executive Summary is placed before the Table of Contents and does not contribute to the word count. The Table of Contents can be inserted using the following steps in Word: click on References, click Table of Contents and automate the process. If you have tables and figures you may want to consider having a Table of Tables and a Table of Figures shown after the Table of Contents. It’s usually easier to take this approach rather than try and format them manually when the assignment is finished.

8/30/2019 10:08:36 PM

Correct page numbering (e.g. the Cover Page is not numbered, the number format for the Executive Summary and the Table of Contents is i, ii, etc. The body of the report starting with the Introduction is numbered 1, 2, 3, etc.) Do not write in the first or second person (I, we, our)—write in third person only. Proof-read before submission for spelling, grammatical and logic errors. Fonts should be plain and easy to read (e.g. Tahoma, Arial, Times New Roman). Font size is typically between 10 and 12 for the body of the assignment. Paragraphs are to be fully justified. Paragraph spacing typically uses one space before and after a paragraph. Line spacing should be set to single. Any tables and diagrams used should be labelled (they do not form part of the word count). APA referencing style to be used.

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