Marketing - Essay Example

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Marketing

Some customers are price sensitive whereby, an increase in price may cause the customers to buy from competitors. On the contrary product/service involves taking into consideration the needs and wants of a customer. Finally, promotion entails creating awareness about the product or service being offered by the company. This may involve taking into consideration the methods that the company will use to promote their product as well as determining the methods used by their competitors (Hoffmann, 2008). Therefore, this study aims to provide an insight of how the company achieves advantage of delivering value to the consumers and to what extent. 1. “A company achieves advantage by delivering superior value to its consumers in the marketplace”. To what extent do you agree with this statement and why? A company achieves advantage by delivering superior value to its consumers through utilization of value chain approach/model as proposed by Porters. Different companies tend to have numerous activities that are being involved in the conversion of raw materials to finished goods so as to deliver superior value to their customers. Those activities may be broadly classified into two categories namely; primary activities and secondary activities /support activities within the value chain model. ...Show more

Summary

Marketing Name: Institution: Course: Tutor: Introduction Marketing entails a process of communicating the value that a product or a service can offer to the customer. This is normally done through advertisement, sales promotion, personal selling to mention just but a few (Pride & Ferrell, 2006)…
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