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Concepts of Customer Value- Business Report
Added on -2019-09-23
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Marketing Management- Masters Level
Table of ContentsExecutive Summary...............................................................................................................................2Introduction...........................................................................................................................................2Customer value discussion....................................................................................................................2Value proposition discussion.................................................................................................................2Importance of these concepts to marketing success.............................................................................3UK Supermarket value delivered...........................................................................................................3Local supermarket value delivered........................................................................................................4Local supermarket customer segment and value..................................................................................5Website Analysis....................................................................................................................................6Recommendations.................................................................................................................................6Conclusions............................................................................................................................................7References........................................................................................................................................8
Business ReportExecutive SummaryThe business report is aimed at understanding the concepts of customer value and value propositions as used by the organizations around the world to achieve its marketing objectives. The impact of such concepts has been viewed through supermarkets strategic marketing goals. This report is based on the experience from the value propositions as used by the local supermarket in the United Kingdom. The findings from the report indicate that it is important for organizations to manage their value propositions and customer value in order to succeed in the global competitive environment. The recommendations also help to achieve this goal and enable in development of competitive advantage.IntroductionCustomer value and value propositions identify why a customer would buy a product or use the service of an organization. These are targeted towards a potential customer and explains how the product would solve any particular problem of the customer ("Customer Value Creation International", 2015). These aspects are important for any organization to attract potential customersand retain them for the long run. The purpose of the report is to understand the difference between the customer value and value proposition. It will also analyze the value delivered by a UK Supermarket and the importance of these values for the overall success of the marketing. The target segments of the customers are also identified for a local supermarket. Finally, at the end of the report, some recommendations have been made for such supermarkets to increase their customer value.The research report has been divided into four important sections. The first section discusses the definitions of customer value and value proposition for a customer and organizations. The second part of the report indicates the importance of these concepts for the success of marketing activities through an example of a UK based supermarket. The fourth part of the report indicates the value delivered by a local supermarket. And the final part of the report indicates the strategic actions which companies can take to improve its value delivered to the customers.Customer value discussionCustomer Value is the value derived by the customer through the use of a product or service. In simple terms, it identifies whether the customer gained the benefits for what he paid for.This is the value which is experienced by the customers from the need for satisfying ability of the product. When the customer value decreased below the expectations, it leads to product failure andthe organization may face losses. On the other hand, when the customer value is more than the expectation, the product succeeds to attract the customers.Value proposition discussionThe value proposition is different from the customer value as it identifies the value promised and communicated by the organization. It also forms the belief of the customer of how the value would be experienced or delivered (Estrella-Ramón, Sánchez-Pérez, Swinnen & VanHoof, 2013).
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