Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

In looking at my own interpretation of value , I have come to realize that there are many other mix elements that provide a better

In looking at my own interpretation of "value" , I have come to realize that there are many other mix elements that provide a better value to me than a decision based only on price. I am sensitive to product specifications and communication of features using real world examples. Since online shopping is frequent option for my shopping, I depend on a good user review section. I am drawn to marketers that consistently provide "content" rather than just trying to sell me something. I have become more critical of marketers who have a poorly laid out web site or when it takes me additional time to find basic information. I am not necessarily 'hung up" when a delivery can't reach me within a few days, but I want an informative order entry system that lets me know where my order is. I want clear indication of any warranties and I want an efficient return system. I want to be able to call someone if I have a problem and I don't want to wait on hold for an hour to receive this assistance. When talking with someone, I expect that person to be trained and to be able to escalate the situation to someone else that can help. So, the "bottom line" here is that value to me is reflected in the strength of the marketing mix elements that are blended into an overall marketing strategy and then put into play with an implementation plan. Various "value" leaders in the marketplace include Apple and Starbucks, two brands not known for low prices. Please comment on favorite products or services you buy/patronize where the value outweighs the higher price you pay.

https://www.investopedia.com/terms/v/valueproposition.asp#:~:text=A%20value%20proposition%20refers%20to,choose%20to%20buy%20their%20product.&text=A%20value%20proposition%20can%20be,product%20or%20use%20a%20service.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Services Marketing Concepts, Strategies, & Cases

Authors: Douglas Hoffman, john Bateson

4th edition

1439039399, 978-1439039397

More Books

Students also viewed these Marketing questions