Created from Youtube video: https://www.youtube.com/watch?v=_0FsHPVOw_QvideoConcepts covered:customer value, perceived benefits, subjective value, dynamic value, competitive market
The video by Prof. Vijay Prakash Anand emphasizes the importance of understanding customer value in marketing, which is defined as the balance between perceived benefits and costs. It highlights that value is subjective, dynamic, and must be continuously created and sustained by companies to meet customer needs and remain competitive in the market.
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4. Customer Value in Marketing -Marketing by Prof. Vijay Prakash Anand
Concepts covered:customer value, perceived benefits, subjective value, dynamic value, competitive market
The video by Prof. Vijay Prakash Anand emphasizes the importance of understanding customer value in marketing, which is defined as the balance between perceived benefits and costs. It highlights that value is subjective, dynamic, and must be continuously created and sustained by companies to meet customer needs and remain competitive in the market.
Question 1
Value in marketing is subjective and dynamic.
Question 2
How should companies sustain value creation?
Question 3
Value in marketing is defined as benefits versus _____.
Question 4
CASE STUDY: A tech company is launching a new product line.
All are value creation strategies except?
Question 5
Marketing creates value through benefits versus cost analysis.
Question 6
Why do customers choose different brands?
Question 7
Marketing revolves around creating, communicating, delivering, and exchanging offerings with _____.
Question 8
CASE STUDY: A luxury brand wants to expand its customer base.
All are strategies to increase perceived value except?
Question 9
Value creation is an ongoing process in marketing.
Question 10
What defines value in marketing?
Question 11
Value is dynamic and changes with competitors' product or service _____.
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