Value-Based Marketing and Its Usefulness to Customers Essay (Article Review)

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The article under consideration dwells upon the customers’ values, and information is one of such values, which is considered to be the main issue in the discussed aspect. The changes of some aspects in the business lead to the shift of customers’ priorities. The article touches such themes as the change of the information technologies, the challenges which are usually faced by the marketing and the marketplace as the economical concept. The center of the article discussion remains the customer, and his/her relevance to mentioned issues. Moreover, the customers’ values are provided through the value of the purchase, and a great deal of aspects are taken into account while purchase analyzing. The customers are guided by the certain criteria in their choice, which form the customers’ value of the market in general. The information plays the key role in the customers’ value of the market, but the personal prefers should not be avoided. It has been proved that information, marketplace change, the change of information technologies and the product credibility are influenced the customers’ values. In addition, it was pointed that value chain is influenced by the organizational configuration of the marketplace.

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Relation

The discussed article has the direct relation to the class, as the value-based marketing and its usefulness to customers is one of the main themes in the management. Customer is the main consideration for any company and the successful companies have chosen the business direction to the customer led companies. To prove the direct relation of the article to the Management class, it is reasonable to consider the essence of the marketing. Marketing is considered to be the governance of the creation of the goods and services and the mechanism of their realization from the point of view of complex process. The informing of the customers, the marketplace and product credibility is the concepts which are studied by the manager, so the article perfectly fits the management discipline, coming out of the main tasks of the subject. Value criteria and value drivers, shareholder value, costs and profits on the market are considered by the marketing and should be investigated by the students during the management classes.

Reaction

The discussed concepts in the article have the argumentative support and educational value. The discussed value criteria, which are used during the product purchase, perfectly reflect the customers’ behavior on the market. It is impossible to disagree that convenience, reliability and aesthetic view of the product are the first consideration of the customer. The other important features are security and performance, and as the social being, who is involved in the financial relation, one of the criteria of the customer value is the economy of the product. The value drivers also have a good representation in the article. The core value driver is the competition on the market, and the very competition makes the market products improved and prices on the acceptable value. The market as a structure is impossible without shareholders, what is perfectly discussed in the article. Capital market and the investors occupy the dominant position in the whole management system. The conclusion is provided by the authors that the shareholder value and customer value are in the close relation with each other, as the reliable market relations are impossible without these both concepts.

Reference List

Walters, D. & Lancaster, G. (1999). Value-based marketing and its usefulness to customers. Management Decision. Vol. 37, Iss. 9, p. 697-708.

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IvyPanda. (2022, June 4). Value-Based Marketing and Its Usefulness to Customers. https://ivypanda.com/essays/value-based-marketing-article-review/

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"Value-Based Marketing and Its Usefulness to Customers." IvyPanda, 4 June 2022, ivypanda.com/essays/value-based-marketing-article-review/.

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IvyPanda. (2022) 'Value-Based Marketing and Its Usefulness to Customers'. 4 June.

References

IvyPanda. 2022. "Value-Based Marketing and Its Usefulness to Customers." June 4, 2022. https://ivypanda.com/essays/value-based-marketing-article-review/.

1. IvyPanda. "Value-Based Marketing and Its Usefulness to Customers." June 4, 2022. https://ivypanda.com/essays/value-based-marketing-article-review/.


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IvyPanda. "Value-Based Marketing and Its Usefulness to Customers." June 4, 2022. https://ivypanda.com/essays/value-based-marketing-article-review/.

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