Explain about the concept of value, Marketing Management

Assignment Help:

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.


Related Discussions:- Explain about the concept of value

What is meant by marketing research, QUESTION (a) What should managemen...

QUESTION (a) What should management do at the time of Maturity stage to avoid decline of a product? Explain your answer with the help of different approaches at this stage. Sug

Influence of environment in marketing, Influence of environment: 1.   ...

Influence of environment: 1.       Opportunity: an event in the environment that may be favourable to a company may be suitably exploited by it for the overall benefit of the

Explain the term - promotion, Explain the term - Promotion Promotion re...

Explain the term - Promotion Promotion refers to process of informing and persuading the consumers to buy certain product. By using this process, marketers convey persuasive me

Essentials of headlines for advertisement, Q. Essentials of Headlines for a...

Q. Essentials of Headlines for advertisement? Essentials of Headlines:- It must be attractive. It must be brief. It must be easy to memorise. It must narra

What is the value chain, What is the value chain? Value Chain: Each f...

What is the value chain? Value Chain: Each firm performs a set of activities which helps in designing, producing, delivering, marketing and supporting its products. Such acti

What is advertising standards council of principles, What is Advertising St...

What is Advertising Standards Council of principles? Explain in briefly. Advertising Standards Council of Principles: a) To make sure the truthfulness and honesty of demo

Fractions, i do not understand multiplying, dividing, subtracting, and addi...

i do not understand multiplying, dividing, subtracting, and adding fractions

Discuss about green marketing in briefly, Discuss about Green Marketing in ...

Discuss about Green Marketing in briefly. Green Marketing: Unfortunately, a majority of people think that green marketing refers only to the promotion or advertising of p

What are the needs for retention, What are the needs for retention? Ne...

What are the needs for retention? Need for Retention: There are several interesting facts upon the basis of past researches about getting a customer and retaining him.

Product policies, Product policies: Product policies are the general...

Product policies: Product policies are the general rules set up by the management itself in the marketing product decisions. Products of a firm are the backbone with which p

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd