Value to Customers

Topics: Marketing, Customer, Consultative selling Pages: 4 (1129 words) Published: March 14, 2013
*
* LO1: Delivering Value to Customers
*
* The Marketing Philosophy and its Relevance to Corporate Culture * Marketing philosophy: holds that achieving organisational goals depends on determining the needs and wants of target markets and delivering the desired satisfactions more effectively and efficiently than competitors. * Takes an outside-in perspective:

* Starts with the well-defined market, focuses on customer needs, coordinates all the marketing activities affecting customers, and makes profits by creating long-term customer relationships based on customer value and satisfaction Companies produce what consumers want, thereby satisfying consumers and making profits. *

* The Role of culture in delivering value
* Most visible reflection of culture: the behaviours that people exhibit as they make choices about how they spend their time and what is important. * Culture is defined as ‘what we do around here’

* Culture is formed by the industry, past strategies, important events, remembered style, personality and behaviours of past leaders. * E.g.: Ritz-Carlton has a strong market culture - which has become synonymous with luxury high-end hotels. * Reason why culture is important to marketing: all company departments have an impact on the value delivered to customers. * E.g. Telestra – part of its mission: ‘To know customers better than anyone else’. *

* A strong market-oriented culture drives strong business performance * Market culture: practical embodiment of marketing philosophy when it is adopted across the business. * Market culture is defined by:

* Overarching culture of business, relating to attention it focuses on market * The level of belief that the ultimate purpose of the business is to create superior value, profitably * Degree to which practices, systems and skills across the business are focused on creating value for...
Continue Reading

Please join StudyMode to read the full document

You May Also Find These Documents Helpful

  • Essay about Starbuck's: Delivering Customer Service
  • Customer Value Proposition in Value Markets Essay
  • Essay about Customer value proposition
  • Customer Value Marketing Essay
  • Managing Customer Value Essay
  • Marketing, customer value and the relationship between the two Essay
  • How Improving Customer Value Benefits Business Profitability Essay
  • Value Added Markiting Essay

Become a StudyMode Member

Sign Up - It's Free