Download Value & The Consumer Value Framework

Value & The Consumer
Value Framework
Chapter 2
Consumer Value Framework
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Consumer Value Framework
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What is it?
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See slide
Relationship Marketing/Management
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Relationship quality
Consumer Value Framework
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Internal Influences
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External Influences
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AKA Psychological
Social & Situational
Decision-making Process
Source: http://business.latech.edu/~bbabin/MKT530/CVF.jpg
Value
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Definition
Can vary, depending on
product
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Value of fast food:
Value of Wal-mart:
Value = Benefits – Costs
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Benefits
Costs
Source: http://latimesblogs.latimes.com
Utilitarian v. Hedonic Value
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Utilitarian Value
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What is it?
Examples:
Hedonic Value
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What is it?
Examples:
Source: http://www.southlaketahoe.com
Marketing Strategy & Value
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Strategy
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“Planned way of doing something”
Marketing Strategy
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Corporate
Business unit
Department/Functional
Marketing Strategy & Value
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Total Value Concept
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Looks at EVERYTHING
Augmented Product
Ferrari
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Benefits:
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Costs:
Source: http://www.gothamdreamcars.com
Market Characteristics
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Target Markets
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Market Segmentation
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Types of segmentation
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Product differentiation
Product Positioning
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Product positioning
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Perceptual map
Ideal points
Source: http://www.wikipedia.org
Customer Lifetime Value
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If you are close to ideal, you provide value!!
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Customer Lifetime Value
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80/20 rule