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'Marketing is all about creating value' Using both critical analysis and practical examples, examine the extend to which creat
Pages 8 (2008 words)
THE EXTENT TO WHICH CREATING VALUE TO CUSTOMERS AND TO THE FIRM ARE AN INTRINSIC PART OF MARKETING TODAY Name: Lecturer: Institution: Course: Date: The Extent To Which Creating Value To Customers And To The Firm Are An Intrinsic Part Of Marketing Today Creating organization and customer value is one of the fundamental objectives of marketing, in the contemporary society.
These models reveal the effective value creation of brand communities, thus contributing to successful business performance. Creating value to customers is an effective means that will enable an organization to achieve a competitive advantage in the global competitive market. Moreover, the strategy of the company of designing superior products is based upon value creation. Therefore, understanding value creation is essential, and marketers should understand it in the new sense of satisfying the needs of customers rather than making sales in marketing practices. Creating value to customers is an intrinsic part of marketing in the contemporary global market because it creates an opportunity for achieving a competitive advantage. Many companies are nowadays creating brand products of high quality; thus, they utilize technologies with the purpose of achieving competitive advantage (Kotler and Keller 2005, p.123). However, the notion behind customer value is one the significant objectives that will enable the company to improve business performance. ...
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