The research indicates that the firm’s role in the value creation course is viewed as the value co-creator. Firm play varied roles in creating high quality products, but the key roles in creating a successful business performance are value co-creator. …
The actors can create value and make offers for potential values. In some occasions, both service providers and customers play significant roles in value creation process. This brings the issue of clients being the value co-creator. Gronroos (2011, p.1) points out that the customer is always a co-producer of value as far as creation of customer value is concerned. Understanding value creation and co-creation value are essential because it enables individuals to meet their stated goals successfully. Value creation deals with value-in-use, which is produced by clients. The process that contributes to value-in-use for customers is essential in producing value for clients. The value-in-use covers all the activities performed by the company and customers in business process. Moreover, the both customers and firms play significant roles in value creation process. Customers are the user of the products; thus, they create value for themselves through integrating organization resources with other crucial available resources in a self-services process (Gronroos 2011, p.9). Contrary, the firm play the role of resource provision to customers; thus in the process they create value to customers. The resources integrated and utilized by customers or firms must be created by someone. Self-evident manufacturing is one of the essential roles of firms that they play in the process of value creation of customers. Designing, development, manufacturing and delivering of resources are all the necessary process for creating value in-use (see figure 1 below). This means that they facilitate value creation of customers; thus contributing to successful business...
The report stresses that marketing management philosophies are the key, critical tasks of creating effective customer and organization value; thus improving business performance. There are numerous ways through which organizations conduct their marketing activities. These include production, promotion, distribution and pricing concepts, which are combined as the marketing mix. The societal marketing is one of the marketing management philosophies that aim to improve the wellbeing of the society. This is through focusing on consumer value creation and satisfaction of their needs.
This paper concluded that 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. Therefore, companies nowadays strive to maintain and attract new customers through creating customer value. The employ varied marketing strategies, which include marketing promotion, product differentiation and pricing strategies in achieving effective business performance. They empathize on the significant of marketing management philosophies that will enable them to maintain and improve customer of organization values. Lastly, marketers incorporate technologies in the business process such use of Internet and social networking sites in order to achieve competitive advantage. However, poor incorporation associate with inadequate technical skills impact significantly customer and organization value in the marketing practices. ...
Cite this document
(“The Extent To Which Creating Value To Customers And To The Firm Are An Essay”, n.d.)
Retrieved from https://studentshare.net/marketing/76096-the-extent-to-which-creating-value-to-customers-and-to-the-firm-are-an-intrinsic-part-of-marketing-today
(The Extent To Which Creating Value To Customers And To The Firm Are An Essay)
“The Extent To Which Creating Value To Customers And To The Firm Are An Essay”, n.d. https://studentshare.net/marketing/76096-the-extent-to-which-creating-value-to-customers-and-to-the-firm-are-an-intrinsic-part-of-marketing-today.
These factors are expected to deliver value to the company as well as the customers. (Christopher et al., 2002) This literature review is a comprehensive analysis of the concept of customer satisfaction in the light of research and findings of various authors in order to arrive at a findings based on the analysis of the existing literatures.
However, it is an admitted fact that at the present, information technology is offering an excellent support for the management of business activities. In addition, corporations use information technology to manage all the areas of business (from transaction to decision support) (Sward, 2011).
Additionally, the employee is not required to pay the increases price of the stock, but the employees receives increased amount on the stock. A potential disadvantage of a stock appreciation right (SAR) plan from the viewpoint of the company is that, since the employees are not required to pay the increased amount for their stock, the company will essentially be crediting the employee money at the expense of the company.
More over, constant interaction between the customers and the marketers could enhancement of marketers’ capabilities in solving the problems related to customers’ satisfaction. In this context, the marketers have a
Customers and suppliers are important stakeholders. “Stakeholders are those individual or groups who depend on the organisation to fulfill their own goals and on whom, in turn, the organisation depends” (JSW: 2005:179). Creating shareholders wealth
Moreover, capitalism can be perceived as an unparalleled means for satisfying human needs, enhancing efficiency, generating wealth and employment. However, it has also hindered the process of harnessing the potentiality of a business in order to meet the challenges
uld not develop relevant anti-instrumental arguments, they turned to suggesting that perhaps nature had, or ought to have some rights of its own (Hargrove, 182). It is from this suggestion that the rights of nature emanated and began to be discussed. While agreeing with the
Intrinsic values are values ingrained in the nature itself. This means that such values do not depend on the usefulness of such nature. Such values exist outside the human experience and are non-subjective
In spite of numerous efforts, the nutrition problems of the society continue to rise. Therefore, it is clear that the current methods of food production and consumption may not be sustainable. Thus, numerous individuals have suffered from nutritional and
For this product, the direct and indirect marketing strategies are used. The first is directly to the customer, while the other uses the distributors to get in touch with the wholesalers before they reach a retailer who provides it to the
2 Pages(500 words)Essay
GOT A TRICKY QUESTION? RECEIVE AN ANSWER FROM STUDENTS LIKE YOU!
Let us find you another Essay on topic The Extent To Which Creating Value To Customers And To The Firm Are An Intrinsic Part Of Marketing Today for FREE!