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Placement
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Product Target Market Coverage
Product variety Assortment
Quality Locations
Design Inventory
Features Transport
Brand name
Packaging Price Promotion
List price Sales promotion
Discounts Advertising
Allowances Sales forces
Payment period Public relations
Credit terms Direct marketing
The “New” Mantra of Marketing
CCD V T P
Create, Communicate Value To a Target At a Profit
and Deliver Market
Marketing Mix
)
Two key marketing functions:
Value Creation (Product, Price,
Placement)
Customer Deprivation: “Diabetic patients and
health conscious individuals also want to enjoy
their tea and deserts and may require a cheaper
alternative to imported sweeteners”
Value Communication
(Promotion)
)
Companies create some sort of value for their target
customers …
)
Let’s see how the “Customer Value
Equation” works for the consumers …
The Customer Value Equation
)
Customer Value Creation
Customer Value
Positive Negative
Running Cost
Resale Value
Lifestyle / Maintenance
Cost
)
Reducing the customer’s running and lifestyle cost
)
Although the sale price may be high of “Liquid Heaters”, the product lasts
longer (running cost is lower) compared to “Mat Heaters”
Analyzing Customers’ Perceived Sacrifice
)
Why would customers switch their telecom
service provider? (2010 Survey)
)
The Customer Value Equation
Customer Value =
Functional Benefits + Image Benefits
Price +Time +Energy +Psychic Costs
)
Customer Value Disciplines
Product
Customer
Customer Intimacy
Organization
Operational Excellence
Customer Value Disciplines
Successful companies
Market-oriented companies attemptspecialize (are considered
to create customer value in order toby theand retain
attract
customers.
customers Theiras
aimthe
is tobest)
deliverin
superior
one value
of theto their
valuetarget customers.
disciplines and
maintain an “above average” performance (as compared to
competitors)
Customer Value canin the other two
be delivered …
by following one of the “value disciplines”:
A company needs to specialize in providing one of the three types of customer value
dimensions …
3 Customer Value Dimensions
Psychological Value
Psychological Value