The marketing value, also known as customer value, is the difference between a potential client's assessment of the benefits and cost of one product compared to others. Value can also be expressed as the direct relationship between the benefits received and the costs incurred.
Types of marketing values:
Monetary value: The price paid in this case depends on the offered securities. This value requires a compromise between other values and monetary costs.
Psychological Value: The extent to which a product allows consumers to express themselves or feel better.
Social Value: The extent to which a product owner or service provider allows the consumer to communicate with others.
Functional value: this type of value is an offer, a solution offered by the customer.
And more...
By giving value to the marketing and your potential clients, it might increase sales and better your service and rank. Marketing is one of the most necessary things in business, don't forget to give the value to it.
In order for a company to deliver value to its customers, they must take into account what is called the "common market offer". This includes the reputation of the organization, the representation of employees, the benefits of products and technological qualities compared to competitors' market offerings and prices. Thus, the value can be defined as the relationship between the company's offerings on the market and its competitors.
The underlying concept of value in marketing is human needs. The basic human needs may include food, shelter, affiliation, love and self-expression. Both culture and individual personality shape human needs, which is known as the will. When they want to support purchasing power, they become requirements.
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