Customer Value Marketing

Topics: Marketing, Customer lifetime value, Consumer behaviour Pages: 7 (1775 words) Published: January 20, 2013
EXECUTIVE SUMMARY

This report based on the study of “Customer Value Marketing” starts with introduction section. We have mentioned the contents of the study in objectives of the report section. The methodology section deals with the means of preparation of this report and the processes that we have followed. Then the report describes the theoretical aspects of the study in the literature review. This section mainly consists of brief description about different important topics about customer value marketing. Finally in the last section, the report is concluded with findings, bibliography and appendix over the topic. The appendix section contains some International Journals on Customer value marketing.

INTRODUCTION

Today’s marketing process is highly customer focused. It is all about creating customer value and building profitable customer relationship. Customers are at the center of marketing process. The main theme of marketing is to create customer value and to capture value from customers in return. The goal of every marketer is to create more value for customers. Customers usually face a broad array of products and services that might satisfy a given need. Among these products or services, customers have to choose the products that give them optimum value and satisfaction. That is why creating customer value is considered to be the most important task to be performed by marketing today. The marketers do it through “customer value delivery system”, a system which is made up of the value chains of a company and its suppliers, distributors and ultimately its customers who work together to deliver value to customers. To deliver superior value to customers the marketers have to design a customer driven marketing strategy. The proper implementation of this strategy will give customers a perceived value, therefore, satisfaction. While buying a product or service, a customer is buying satisfaction. Highest value is derived when a customer is fully satisfied with his or her purchase. Today, value is considered to be an important constituent of relationship marketing and the ability of a company to provide superior value to its customers is regarded as one of the most successful competitive strategies for business. Hence, today’s marketing needs to be based on the concept of customer value.

OBJECTIVES OF THE REPORT

This report mainly discusses the following subjects:
Customer Value
Customer Value Strategy
Customer Value Positioning Model
The implementation of Customer Value Strategy
Hypothesis Regarding Customer value
Propositions on Customer Value
Methods of Customer Value Assessment
Customer Lifetime Value

METHODOLOGY OF THE REPORT

The report in this study is basically a descriptive one. Here, both the primary and the secondary data are been used. The primary data has been collected from lectures given on this topic in the classroom. The secondary sources of data are our textbooks, various international journals & different websites.

LITERATURE REVIEW

Customer value strategy:
Customer value strategy is doing things differently from the competitors and transferring different values to the customers. There are six principles of strategic positioning. They are: •Strategy should have the right objectives.

The value of positioning should be distinguished from the competitors. •Strategic thinking should be reflected from the unique value chain. •In order to pursue the uniqueness in certain areas, we must give up some of the other characteristics of products, services or activities. •Strategy should enable the effective integration of various activities. •Strategy should have sustained direction.

Customer Value Positioning Model:
A Successful business is always based on its selection of the target customers for value positioning. Customers can be roughly divided into three types, but...

Bibliography: 1. Komulainen Hanna; Mainela Tuija; Tahtinen Jaana; Ulkuniemi Pauliina (2004) “Exploring Customer Perceived value in a Technology Intensive Service Innovation”, volume 20, page 27.
2. Ravald Annika; Gronroos Christian, (1996),”The Value Concept and Relationship Marketing”, volume 30, page 12.
3. Lia Chia Chi;(2003) “The role of Customer perceived value in Generating Customer Satisfaction: An E-business perspective” volume 5, page 15.
4. Lam Shun Yin; Shankar Venkatesh; Erramilli and Murthy; Krishna Bvsan, (2004), ”Customer value, Satisfaction, Loyalty and Switching cost: An illustration from a Business to Business Service Context”, volume 32, page 20.
5. Rajagopal, (2006), “Brand value, Preferences and Customer value effect of Non-conventional utility products: An experimental analysis in Mexican market”, page 23.
Weinstein Art and Abratt Russel(2009) “Marketing Intelligence & Planning” Volume 27 No. 5 page 19, 2009
6.
7. Andreassen Tor Wallin (1997) “The International Journal of Service Industry Management”, volume. 8, No 4, Page 33

Anderson James C. Jain Dipak C. & Chintagunta Pradeep K.(1993), “Journal of Business to Business Marketing”Volume 1(1) , Page 29
Pfeifer Phillip E., Haskins Mark E
Zhang Jason Q. , Dixit Ashutosh and Friedmann Roberto (2010), “Journal of Marketing Theory and Practice” Volume 18 no. 2, Page 13
7.
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