From smart-watches to fitness trackers, it is increasingly common to see people wearing sport related technology on their wrists. Fitbit is one of the outstanding brands in the fitness category and is experiencing 250% year-over-year growth (Forbes, 2015). Fitbit is committed to helping people live healthier and more active lives. Fitbit Alta has incorporate the power of new technologies to make people more aware of their diets, daily activities and encourage customers to do more exercise, it is a wireless tracker to track health and sleep. The company’s goal is to provide an exclusive product, rich features at a highly competitive price (Fitbit, 2016). This essay is going to explain the importance of marketing; the concept of customer value;
…show more content…
The term customer value has many meanings, but two dominate – value for customer and value for the firm (Woodall, 2003). The creation of value for customers is a critical job for marketers, especially when developing new products and services or starting new businesses (Smith & Colgate, 2014). From a customer’s perspective, customer value is what they benefit from Fitbit Alta relative to what they have to sacrifice in order to obtain it (Zeithaml, 1988). Smith & Colgate break customer value down into a number of small parts shown in figure 2. The values that are in blue are the benefits that customer may get from buying a certain product. The column that named “Cost/ Sacrifice Value” is the costs that customer need to give up in order to receive the set of …show more content…
These value are called functional or instrumental value; it gives accurate measurements, appropriate performance, and appropriate outcome to customers. This is the main utility of the product that we seek. It this case customer that want to have a wristband device that can record their daily steps and track their sleeps may consider Fitbit Alta. Fitbit Alta have a 3-axis accelerometer that can track the steps, distance and calories burned in minutes (Charara,
The term customer value has many meanings, but two dominate – value for customer and value for the firm (Woodall, 2003). The creation of value for customers is a critical job for marketers, especially when developing new products and services or starting new businesses (Smith & Colgate, 2014). From a customer’s perspective, customer value is what they benefit from Fitbit Alta relative to what they have to sacrifice in order to obtain it (Zeithaml, 1988). Smith & Colgate break customer value down into a number of small parts shown in figure 2. The values that are in blue are the benefits that customer may get from buying a certain product. The column that named “Cost/ Sacrifice Value” is the costs that customer need to give up in order to receive the set of …show more content…
These value are called functional or instrumental value; it gives accurate measurements, appropriate performance, and appropriate outcome to customers. This is the main utility of the product that we seek. It this case customer that want to have a wristband device that can record their daily steps and track their sleeps may consider Fitbit Alta. Fitbit Alta have a 3-axis accelerometer that can track the steps, distance and calories burned in minutes (Charara,