Scenario: You have just graduated from the University of Phoenix with your Bache

Question

Scenario: You have just graduated from the University of Phoenix with your Bachelor's Degree. You have decided either to seek a promotion at your current work, explore new career opportunities, or open your own business and are using your marketing knowledge to position yourself for career growth. Develop a 1,050-word response to the following using the scenario above: Provide a definition of marketing from the American Marketing Association. Define the customer value proposition. Discuss the differences between the marketing process and advertising, the goals of creating a strong customer value proposition, and the unique relationship that exists between company and customer. Use your workplace, a company you would like to work for, or an entrepreneurial vision and apply the concepts of the customer value proposition and relationship marketing to their operations. Introduce who the company, or business idea is and what they do. Provide examples demonstrating how the company uses these concepts successfully. Are there any ways they can improve in these areas? How? Determine how your own personal brand links to the organization's customer value proposition. Discuss ways you can integrate a customer value proposition and use relationship marketing to position yourself the best. Please share examples to illustrate your thoughts and reasoning.

Explanation / Answer

As per the defination approved by the American Association of Marketing , marketing is the activity , set of institutions and processes for creating , communicating , delivering and exchanging offerings that have values for customers , partners and society at large. So through marketing basically we have to create , communicate , deliver and exchange values for people and communities around us .
Customer Value Proposition defines why a customer should buy a product or services or in other words what is the value proposed by the company through its product or service to the customer . The values for the customers are economic values , end values , symbolic values , functional values and emotional values.
The key differences between marketing and advertising are :
Marketing Advertising
This is basically a preparation of the product or service for the market This is basically making the customers know about the product or service
This generally involves knowing fully about the potential customers and what is of real value to these customers in terms of the product or sevice . This generally involves in knowing the best way to communicate with the customer .
Here we align the product or service with the customer requirement. Here we align with the best channel of communication to have maximum impact on the customer.
The differences between the goals of creating a strong customer value proposition, and the unique relationship that exists between company and customer are as follows :
The goals of creating a strong customer value proposition The unique relationship that exists between company and customer
Here basically we define what are the values and upto what extent we are going to create in our products or services for our customers. The values generally are economic values , functional values , emotional values , end values and symbolic values. The values are created to convince the cutomer to buy the product or service . Here basically the intent is to find those cutomers who believe in our product or service and building a relationship of trust and loyality with them. So here the relationship extends beyond the buying of product or service by the customer and involves staying in close proximity to the customer , servicing him and taking cues from him or her and improving the product or ervice at all times.
I work for Eveready Indutries India Ltd . They are FMCG brand of repute in India . They cannot survive if the overlook the concepts of customer value proposition and relationship marketing .
The company sells manufactures and sells batteries that are primarily used in torches , wall clocks and remote control. In customer value proposition they strive to provide maximum values to the customers in terms of economic value that is the price as the batteries are the cheapest , in terms of functional value as the batteries do the job they are supposed to do , in terms of symbolic value as Eveready is a number one brand in India & its always a priviledge for customers to use it , in terms of end value as the batteries lasts the longest and in terms of emotional values as the brand is more than 100 years old & so is the relationship between customers and the company as the company believes in long term relationships. In marketing relationships company tries to be as close to the customer as possible . Every quarter the factory manufacturing personnel have to visit the markets and find out the grievances if any of the customers in terms of quality of the product and strive to overcome those . So company makes it a point to make the person who makes the product to meet the person who uses it. Secondly company believes in maintaining longterm relationships and do not part ways with customers at any cost . (Here when I say customers it includes dealers & ditributers also.)
My personal brand links to the organization's customer value proposition as I also provide maximum value to the company as I am a mixture of 2 traits technical

Related Questions

Navigate

• Browse (All)
• Browse S
• Subjects

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.