Clients and Markets - Desklib

clients and markets.

TABLE OF CONTENTS
Question 1....................................................................................................................................3
Question 2....................................................................................................................................3
Question 3....................................................................................................................................4
Question 4....................................................................................................................................5

Question 1
Value in marketing refers to customer – perceived value, value is also known as the
difference between the cost and the benefit which is being received by the customer when they
purchase any products and services. Customer always wants that they may get high value of their
products. Apart from this, it has also been seen that value affects the perception of buyer,
marketers, sellers and society. By provi9ding high value to customers, sellers may earn good
profit because they can easily draw the attention of new customers along with existing one. The
value of marketing for society is also very high. The suitable marketplace can be target market in
which company wants to sell their goods and products. A part from this, value can be derived
from the market place by adopting proper marketing and pricing strategy. Whenever any
company, provides goods and services at low prices then it defiantly attracts new customers. so
the target market of the company can be a better place to gain value form the customers. it is one
of the major principle because it doesn’t matter what products and services is being given by the
company but the value is totally derived by the customers because they always think before
paying the value. For that they will check the situation of their competitors as well like at which
price they are selling similar products. so the strategies of competitors also affect buyers and
their value.
Question 2
Market penetration is a term used in market for measuring that how much total services and
products are used by the customers and clients as compared to the total estimated market of
product and services. This term is used to increase the existing product 's market value without
changing their framework. Starbucks a premium coffee product company used this strategy to
increase the price of their existing product. To increase the revenues and for the growth of
company Starbucks started to launch their new store with the use of market penetration strategy.
They decided to launch drinks and coffee at lower price to attract the customer, once they made
the customer then they set the market penetration strategy to start selling their product on their
original price with no discount so that it will help them to earn more profit. Market development
strategy is used by any organisation to develop and find new market for their current products.
Market development strategy is set for non-buying customer in targeted market. Starbucks
company wants to introduce their company in international market for that purpose they have
targeted their new market with the help of market development strategy, they have made a
3