1 CONSUMER PARTICIPATION FRAMEWORK Consumer Participation Framework.
Value & The Consumer Value Framework Chapter 2. Consumer Value Framework Consumer Value Framework...
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Transcript of Value & The Consumer Value Framework Chapter 2. Consumer Value Framework Consumer Value Framework...
![Page 1: Value & The Consumer Value Framework Chapter 2. Consumer Value Framework Consumer Value Framework Consumer Value Framework What is it? What is it? See.](https://reader035.fdocuments.in/reader035/viewer/2022062304/56649e675503460f94b62903/html5/thumbnails/1.jpg)
Value & The Consumer Value & The Consumer Value FrameworkValue Framework
Chapter 2Chapter 2
![Page 2: Value & The Consumer Value Framework Chapter 2. Consumer Value Framework Consumer Value Framework Consumer Value Framework What is it? What is it? See.](https://reader035.fdocuments.in/reader035/viewer/2022062304/56649e675503460f94b62903/html5/thumbnails/2.jpg)
Consumer Value FrameworkConsumer Value Framework
Consumer Value FrameworkConsumer Value Framework What is it?What is it?
See slideSee slide
Relationship Marketing/ManagementRelationship Marketing/Management Relationship qualityRelationship quality
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Consumer Value FrameworkConsumer Value Framework
Internal InfluencesInternal Influences AKA PsychologicalAKA Psychological
External InfluencesExternal Influences Social & SituationalSocial & Situational
Decision-making ProcessDecision-making Process
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Source: http://business.latech.edu/~bbabin/MKT530/CVF.jpg
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ValueValue
DefinitionDefinition Can vary, depending on Can vary, depending on
productproduct Value of fast food:Value of fast food: Value of Wal-mart:Value of Wal-mart:
Value = Benefits – CostsValue = Benefits – Costs BenefitsBenefits CostsCosts
Source: http://latimesblogs.latimes.com
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Utilitarian v. Hedonic ValueUtilitarian v. Hedonic Value
Utilitarian ValueUtilitarian Value What is it?What is it? Examples:Examples:
Hedonic ValueHedonic Value What is it?What is it? Examples: Examples:
Source: http://www.southlaketahoe.com
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Marketing Strategy & ValueMarketing Strategy & Value
StrategyStrategy ““Planned way of doing something”Planned way of doing something”
Marketing StrategyMarketing Strategy CorporateCorporate Business unitBusiness unit Department/FunctionalDepartment/Functional
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Marketing Strategy & ValueMarketing Strategy & Value
Total Value ConceptTotal Value Concept Looks at Looks at EVERYTHINGEVERYTHING Augmented ProductAugmented Product
FerrariFerrari Benefits:Benefits:
Costs: Costs:
Source: http://www.gothamdreamcars.com
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Market CharacteristicsMarket Characteristics
Target MarketsTarget Markets
Market SegmentationMarket Segmentation Types of segmentationTypes of segmentation
Product differentiationProduct differentiation
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Product PositioningProduct Positioning
Product positioningProduct positioning Perceptual mapPerceptual map Ideal pointsIdeal points
Source: http://www.wikipedia.org
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Customer Lifetime ValueCustomer Lifetime Value
If you are close to ideal, you provide value!!If you are close to ideal, you provide value!!
Customer Lifetime ValueCustomer Lifetime Value
80/20 rule80/20 rule