Marketing And Customer Value
Frank Shephard
MKT/421
Gregory Rankin
10/30/2017
Marketing Definition
According to the American Marketing Association, marketing can be defined as the activity, processes of a set of institutions for communicating, exchanging, creating and delivering offerings that have value for partners, society, clients, and customers. While this definition may seem cumbersome, it ensures that one gets a better understanding of the broad concept of marketing. In simple terms, the definition of marketing by AMA can be narrowed down to the tasks that are undertaken to ensure that value is delivered in the workplace (Copley, 2014).
Customer Value Proposition
A customer value proposition can be described as a marketing or business statement that explains why customers must buy their product or use a particular service. In most case, the customer value proposition is targeted toward potential customers as opposed to other constituent groups, for example, suppliers, employees, and partners. In a nutshell, value proposition constitutes of a clear statement explaining how the products can improve the customers' situation or how it solves the problems of the customers (Anderson, Narus & Van …show more content…
In the company, the value proposition is determined by the customers' engagement based on the frequency of use and the range of features and services that are accessible. The higher the meeting, the higher the stickiness that is achieved by the device. Ever since its inception, around three decades ago, Apple has positioned itself to specific customers, innovators, people with a good lifestyle, and good jobs. In case the company decided to target poorer customers, it would end up losing more as the more affluent customers would not engage in its products. By providing its customers with a unique experience when using its products, Apple continues to apply the customer value proposition concept more
Frank Shephard
MKT/421
Gregory Rankin
10/30/2017
Marketing Definition
According to the American Marketing Association, marketing can be defined as the activity, processes of a set of institutions for communicating, exchanging, creating and delivering offerings that have value for partners, society, clients, and customers. While this definition may seem cumbersome, it ensures that one gets a better understanding of the broad concept of marketing. In simple terms, the definition of marketing by AMA can be narrowed down to the tasks that are undertaken to ensure that value is delivered in the workplace (Copley, 2014).
Customer Value Proposition
A customer value proposition can be described as a marketing or business statement that explains why customers must buy their product or use a particular service. In most case, the customer value proposition is targeted toward potential customers as opposed to other constituent groups, for example, suppliers, employees, and partners. In a nutshell, value proposition constitutes of a clear statement explaining how the products can improve the customers' situation or how it solves the problems of the customers (Anderson, Narus & Van …show more content…
In the company, the value proposition is determined by the customers' engagement based on the frequency of use and the range of features and services that are accessible. The higher the meeting, the higher the stickiness that is achieved by the device. Ever since its inception, around three decades ago, Apple has positioned itself to specific customers, innovators, people with a good lifestyle, and good jobs. In case the company decided to target poorer customers, it would end up losing more as the more affluent customers would not engage in its products. By providing its customers with a unique experience when using its products, Apple continues to apply the customer value proposition concept more