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20 Cards in this Set
- Front
- Back
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original marketing mix elements |
product, promotion, place, and price |
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marketing mx has changed now marketing is composed of four activities centered on a |
customers value |
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now, product has become |
creating value |
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now, promotion has become |
communicating value |
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now, place has become |
delivering value |
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now, price has become |
exchanging value |
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what is creating value |
process of collaborating with suppliers and customers to create offerings that have value |
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in terms of the customer, creating is... |
the making for customer |
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what is communicating value? |
broadly describing those offerings as well was learning from customers |
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in terms of the customer, communicating is... |
telling the customer |
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what is delivering |
getting those offerings to the consumer in a way that optimizes value |
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in terms of the customer, delivering is... |
the process of getting it to the customer |
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what is exchanging |
trading value for those offerings |
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in terms of the customer, exchanging is... |
how much / trade? |
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value is determined by |
customer |
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value as defined by a difference |
benefits received - (price + hassle) |
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value as defined by a ratio |
benefits / price benefits = total 'get' price = total 'give' |
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another way to define value as a ratio |
(Fb + Eb) / (P + Oe) Fb = functional benefit (utility) Eb = emotional benefit (psychological) P = price (charged for acquisition) Oe = other expenses/ cost of acquisition |
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how is value delivered |
through the supply chain |
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what is the goal of value |
to create a positive exchange |
