Value The Consumer Value Framework Chapter 2 Consumer

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Value & The Consumer Value Framework Chapter 2

Value & The Consumer Value Framework Chapter 2

Consumer Value Framework n What is it? n n See slide Relationship Marketing/Management n

Consumer Value Framework n What is it? n n See slide Relationship Marketing/Management n Relationship quality

Consumer Value Framework n Internal Influences n n External Influences n n AKA Psychological

Consumer Value Framework n Internal Influences n n External Influences n n AKA Psychological Social & Situational Decision-making Process

Source: http: //business. latech. edu/~bbabin/MKT 530/CVF. jpg

Source: http: //business. latech. edu/~bbabin/MKT 530/CVF. jpg

Value n n Definition Can vary, depending on product n n n Value of

Value n n Definition Can vary, depending on product n n n Value of fast food: Value of Wal-mart: Value = Benefits – Costs n n Benefits Costs Source: http: //latimesblogs. latimes. com

Utilitarian v. Hedonic Value n Utilitarian Value n n n What is it? Examples:

Utilitarian v. Hedonic Value n Utilitarian Value n n n What is it? Examples: Hedonic Value n n What is it? Examples: Source: http: //www. southlaketahoe. com

Marketing Strategy & Value n Strategy n n “Planned way of doing something” Marketing

Marketing Strategy & Value n Strategy n n “Planned way of doing something” Marketing Strategy n n n Corporate Business unit Department/Functional

Marketing Strategy & Value n Total Value Concept n n n Looks at EVERYTHING

Marketing Strategy & Value n Total Value Concept n n n Looks at EVERYTHING Augmented Product Ferrari n Benefits: n Costs: Source: http: //www. gothamdreamcars. com

Market Characteristics n Target Markets n Market Segmentation n Types of segmentation n Product

Market Characteristics n Target Markets n Market Segmentation n Types of segmentation n Product differentiation

Product Positioning n Product positioning n n Perceptual map Ideal points Source: http: //www.

Product Positioning n Product positioning n n Perceptual map Ideal points Source: http: //www. wikipedia. org

Customer Lifetime Value n If you are close to ideal, you provide value!! n

Customer Lifetime Value n If you are close to ideal, you provide value!! n Customer Lifetime Value n 80/20 rule

Consumer Behavior Consumer Satisfaction Consumer Behavior Consumer SatisfactionConsumer Behavior Consumer Satisfaction Consumer Behavior Consumer Satisfaction
Consumer Behavior Value Consumer Behavior Consumer behavior isConsumer Behavior Value Consumer Behavior Consumer behavior is
Think About Value Price Cost Consumer Value ConsumerThink About Value Price Cost Consumer Value Consumer
THE CONSUMER CHAPTER 2 THE CONSUMER A consumerTHE CONSUMER CHAPTER 2 THE CONSUMER A consumer
CHAPTER 7 THE CONSUMER The Consumer A consumerCHAPTER 7 THE CONSUMER The Consumer A consumer
Chapter 3 Consumer Protection CONSUMER EDUCATION Consumer RightsChapter 3 Consumer Protection CONSUMER EDUCATION Consumer Rights
Consumer Protection Government Consumer Action Chapter 15 ConsumerConsumer Protection Government Consumer Action Chapter 15 Consumer
Chapter 4 Consumer Behavior Consumer behavior Analyzing consumerChapter 4 Consumer Behavior Consumer behavior Analyzing consumer
CREATING VALUE and CAPTURING VALUE CREATING VALUE ValueCREATING VALUE and CAPTURING VALUE CREATING VALUE Value
VALUE Drawing Class Value What is value ValueVALUE Drawing Class Value What is value Value
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