A key aspect of marketing strategy is the development of a value proposition and positioning a company's offering to target customers. By clearly articulating its value proposition and positioning, companies can deliver high customer value and satisfaction, which lead to high repeat purchases and ultimately to greater company profitability.

Depending on the needs of customers, an offering can create value across three domains. Identify and explain the three domains. How do they relate to the customer value proposition? What frame of reference might consumers use to evaluate the value of an offering? Explain your answer.