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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.
According to the MCCI Business Confidence Indicator (September 2010), the morale of business leaders is morose with a drop to 96.3 of the confidence level index(March 2010=100)
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Advertising is frequently criticized for its excessive persuasiveness. It creates unnecessary want for the products which buyers don't need or can't afford. Occasionally by promoti
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