how does marketing affect customer value
TRANSCRIPT
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What is customer
value?
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Customer value is the benefit that a customer will get from a product or service in comparison with its cost.
Purchasing energy efficient light bulbs has a customer value of saving money on electricity costs.
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So, how does
marketing affect
customer value?
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Is marketing only about selling?
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Marketing begins in the initiation phase!
• Marketing actuates value creation and delivery.
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The value chain effectively assists this process.
The following illustration is an agri-value chain; we can see how the final value of the product is affected!
Increasing value
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A firm’s success largely depends upon the core business processes.
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Companies nowadays outsource less critical resources and instead concentrate on the CORE
COMPETENCIES
• What are core competencies?
• How does outsourcing helps?
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Core competencies make
up the essence of the
business and give a
competitive advantage!
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Outsourcing relieves some
burden from the company and
lets it concentrate on 3 major
areas!
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Product
design
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Development
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Conclusion:
• By adopting holistic marketing approach we can:
1.audit the value chain2.maximize value creation3.Improve the delivery process
Thus improve CUSTOMER VALUE!
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Disclaimer:This presentation was created by Raminder Singh, Thapar University under an internship by Prof. Mathur, IIM Lucknow.
http://www.iiminternship.com/