Download 3 Value day 2 part 1 intro

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In peace there's nothing so becomes a man
As modest stillness and humility:
But when the blast of war blows in our ears,
Then imitate the action of the tiger;
Stiffen the sinews, summon up the blood,
Disguise fair nature with hard-favour'd rage;
Then lend the eye a terrible aspect;
Let pry through the portage of the head
Like the brass cannon; let the brow o'erwhelm it
As fearfully as doth a galled rock
O'erhang and jutty his confounded base,
Swill'd with the wild and wasteful ocean.
Now set the teeth and stretch the nostril wide,
Hold hard the breath and bend up every spirit
To his full height. On, on, you noblest English.
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The process of going to market
Customer value
What managers need to know
Challenges for the 21st century manager
The strategic pathway
Strategic thinking and
thinking strategically
Market
sensing
and
learning
strategy
Strategic
market
choices
and
targets
Customer
value
Strategic
strategy
relationships
and
and
positioning
networks
Strategic
transformation
and strategy
implementation
Phase One 1 Mission
Goal Setting
2 Corporate Objectives
3 Marketing Audit
Phase Two
Situation Review
4 Market overview
5 SWOT analysis
6 Assumptions
7 Marketing objectives and strategies
Phase Three
Strategy Formulation
Phase Four
Resource allocation
and Monitoring
8 Estimate expected results and identify
alternative plans and mixes
9 Budget
10 First year detailed
implementation programme
Measurement
and review
Strategic thinking and
thinking strategically
Market
sensing
and
learning
strategy
Strategic
market
choices
and
targets
Customer
value
Strategic
strategy
relationships
and
and
positioning
networks
Strategic
transformation
and strategy
implementation
Creativity
Innovation
Reinvention
Processes that define value
e.g., market knowledge and
learning, CRM, research, intelligence
Processes that create value
e.g., new product development, innovation,
brand development, strategic relationships
Processes that deliver value
e.g., channels, supply chain,
customer service
Resources
Capabilities
Strategic relationships
Customer
value
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Consumer value plays a crucial
role at the heart of all marketing
activity (Holbrook, 1999 p. 1)
Source: Holbrook, M. B., 1999 Consumer Value
A framework for analysis and research. Abingdon: Routledge
… perceived value is the consumer's overall
assessment of the utility of a product based on
perceptions of what is received and what is given.
Though what is received varies across consumers
(i.e. some may want volume, others high quality,
still others convenience) and what is given varies
(i.e. some are concerned only with money
expended, others with time and effort), value
represents a trade-off of the salient give and get
components.
Source: Zeithaml, V. A., 1998 Consumer Perceptions of Price, Quality, and Value:
A Means-End Model and Synthesis of Evidence Journal of Marketing 52 (July): 2-22
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Benefits
 Convenience
 Quality
 Prestige/status
 Price
Sacrifice
 Money
 Search costs
 Psychic costs
Customer –perceived value =
Perceived Benefits
______________
Perceived Sacrifice
Benefits =
attributes of core product/service and supporting services,
perceived quality and price
Sacrifice =
customer costs involved in purchasing, such as time, travel,
repairing faulty work, etc. – NOT just price
Source:Monroe, K. B., 1991 Pricing – Making Profitable Decisions, McGraw-Hill, New York, NY. Quoted in Ravald, A.
and Gronroos, C., The value concept and relationship marketing European Journal of Marketing Vol 30 No 2 1996 p 19 - 30
Customer value is a customer’s perceived
preference for and evaluation of those product
attributes, attribute performances, and
consequences arising from use that facilitate
(or block) achieving the customer’s goals and
purposes in use situations.
Source: Woodruff, R. B., 1997 Customer Value: The Next Source for Competitive Advantage
Journal of the Academy of Marketing Science Vol 25 No. 2, pages 139 - 153
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The process of going to market, not
“marketing” in the traditional sense:
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understanding customers and superior value
building marketing strategy to deliver a robust
value proposition to customers
achieving implementation by driving the things that
matter through the corporate environment
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New business models
Innovation
Business agility
Crisis survival
Siege
Global recession
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Aggressive investment
Globalization
Virtuality
Paradox
Corporate Social
Responsibility
Strategy
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New business models
Innovation
Business agility
Crisis survival
Siege
Global recession






Aggressive investment
Globalization
Virtuality
Paradox
Corporate Social
Responsibility
Strategy






New business models
Innovation
Business agility
Crisis survival
Siege
Global recession






Aggressive investment
Globalization
Virtuality
Paradox
Corporate Social
Responsibility
Strategy
Strategic thinking and
thinking strategically
Market
sensing
and
learning
strategy
Strategic
market
choices
and
targets
Customer
value
Strategic
strategy
relationships
and
and
positioning
networks
Strategic
transformation
and strategy
implementation
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Great market for boots
They don’t wear boots