Value Continues, Essay Example

Value creation for consumers is an ongoing process for organizations that aspire to gain a competitive edge in the market place. The concept of value continues can therefore be construed as fundamental to marketing thinking and practice. Value plays a crucial role in contemporary market because the objectives of marketing strategies is catering for particular segment of the population who are perceived as potential buyers of the product or the service that is offered in the market. The marketing environment continues to gain complexity thus affecting the internal environment on the organization. Initially, marketers were exposed to just a few vehicles of communication but the number has increased in the contemporary marketing (Amram, 2002). The growth has prompted for the increase in external as well as internal specialists having a good pool of experience on the use of a wide array of media channels. The exponential proliferation in the complexity of marketing is not likely to decline and therefore, a careful consideration of the concept of value continues as fundamental tool in marketing thinking and practice cannot be underestimated. Delivery of high value to the customer is the surest way of generating high loyalty among the customers that is achievable through superior value proposition with a targeted segment in the market supported by value delivery system that are also superior. It is also important to develop some capabilities in the organization that include the following:

• Creation of customer value
• Delivery of customer value
• Understanding the customer value
• Capturing the customer value
• Sustaining the customer value

Value continues is therefore an important concept in maintaining the consumer value that plays an important role in understanding customer satisfaction (Ferrell & Hartline, 2014). Repeat purchases can only be attributed to customer satisfaction and this is a good indication that the business is holding to the principle of value continues in the marketing thinking and practice. The customer may also develop a feeling of being appreciated and also valued in the business that translates to a favorable business reputation and consequently an increase in sales. Loyal customers can be considered as important asset to the business as they are a source of value. Creation of customer value as well as satisfaction is issues at heart of contemporary marketing thinking as well as practice.

Creation of high profile satisfaction among customers also creates a sense of easiness such that the customers will continue aspiring conducting business with the firm. The satisfaction is based on availability of high quality product or service at a price that is relatively competitive. The sustainability of such a business interaction should be the focus of managers in marketing thinking as well as practice. Value continues in marketing thinking and practice also takes in to account the skills as well as the knowledge concerning the services and products that the customer is interested in and majority of organization conducts occasional surveys to evaluate the level of satisfaction among the customers (Baggaley & Maskell, 2003). The surveys also facilitates in understanding the knowledge issues that are supposed to be addressed for the benefit of the customers. The surveys also provide a foundation for discovering new and improved products as well as services that may be needed by the customers which is a good investment for the business. The most important starting point for the concept of value continues in marketing thinking and practice is the satisfaction of the customer, which determines the success of the business.

Works cited

Amram, M. Value Sweep: Mapping Corporate Growth Opportunities. Harvard Business School Press, 2002.

Baggaley, B. & Maskell, B. “Value stream management for lean companies, Part II.” Journal of Cost Management (May/June): 24-30, 2003.

Ferrell, O. C., &Hartline, M. D. Marketing strategy: Text and cases, 6th Ed. Mason, OH: South- Western/Cengage Learning, 2014.