Marketing’s View of Price
We often come across the term price; it’s a common term in everyday life.
In general terms, price can be considered as a monetary amount that is charged in order to get something desired from the … Read more...
Tag: value
What is a benefit?
Defining benefits in marketing terms
In marketing, the word benefit refers to some advantage or positive outcome for the consumer. That is, the consumer is better off due to the purchase/consumption of the product.
Products are designed to solve problems … Read more...
Value proposition example for McDonald’s
A good way to think about the firm’s value proposition is consider what is different and beneficial about the firm’s (or brand’s) offering/s in the marketplace.
Over time, firms/brands will develop and enhance multiple offerings for their target markets. If … Read more...
Utility in marketing
Customer value = economic utility
If you have previously studied economics, then the chances are you have seen the word “utility”. Utility is the economic term for the range of value and benefits received by consumer from the acquisition and … Read more...
Difference between Positioning and a Value Proposition
A key aspect of a successful marketing strategy is the clear definition and communication of a sought-after value proposition. A good way to think about the firm’s value proposition is consider what is different and beneficial about the firm’s … Read more...
How to identify a value proposition
Ways to identify a suitable value proposition
Providing a value proposition is a central part of a firm’s offering in the marketplace. A value proposition helps differentiate firms and brands by having something unique about their “offering”.
In marketing … Read more...
How services add value
What is a service?
A common definition for a service in marketing terms is:
A service is any performance, experience or act (that one party can offer to another and that is essentially intangible and does not result in … Read more...
How Consumers See Value
What is Customer Value?
Customer value is a key topic in the study of marketing. But what is meant by customer value? It varies by customer, so let’s look at a few examples of how consumers see value. In … Read more...
List of Benefits and Costs
What are some possible benefits and costs when determining customer value?
A fundamental concept in successful marketing activities is the offering of value to the firm’s target market/s.
Benefits are delivered through design aspects and product attributes that provide some … Read more...
Value Proposition
What is a “Value Proposition”?
A key aspect of a successful marketing strategy is the clear definition and communication of a sought-after value proposition. A good way to think about the firm’s value proposition is consider what is different … Read more...
What is the difference between customer satisfaction and customer value?
Customer Satisfaction (CSat) and Customer Value are Different Concepts in Marketing
Customer satisfaction and value are both fundamental concepts in the understanding of marketing. It is important to note that while they are highly interrelated, they also operate independently.… Read more...
Customer Value
What is customer value?
Customer value is a fundamental concept in the study of marketing and is usually covered in the opening chapter of a marketing textbook.
Virtually all organizations strive to deliver good overall value for both their … Read more...