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Welcome to the Marketing Study Guide

This free study guide has been prepared to meet the information needs of university-level marketing students throughout the world. This study guide is a comprehensive discussion (along with many examples) of the key aspects of marketing as covered across various textbooks and study programs

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Tag: value

The Role of Price in Marketing

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...

Author Geoff Fripp/Posted on /Categories Marketing Mix, PricingTags price, quality, 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...

Author Geoff Fripp/Posted on /Categories Introductory ConceptsTags benefits, value

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...

Author Geoff Fripp/Posted on /Categories Introductory ConceptsTags examples, value

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...

Author Geoff Fripp/Posted on /Categories Customer Satisfaction, Introductory ConceptsTags value

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...

Author Geoff Fripp/Posted on /Categories Introductory Concepts, PositioningTags value

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...

Author Geoff Fripp/Posted on /Categories Introductory Concepts, Marketing Research, New Product ProcessTags value

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...

Author Geoff Fripp/Posted on /Categories Services MarketingTags benefits, value

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...

Author Geoff Fripp/Posted on /Categories Introductory ConceptsTags value

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...

Author Geoff Fripp/Posted on /Categories Introductory ConceptsTags benefits, value

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...

Author Geoff Fripp/Posted on /Categories Introductory Concepts, Marketing Strategy, Segmentation, Targeting and PositioningTags positioning, value

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...

Author Geoff Fripp/Posted on /Categories Customer Satisfaction, Introductory Concepts, Services MarketingTags value

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...

Author Geoff Fripp/Posted on /Categories Introductory ConceptsTags customer, perception, value

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