Creating and Capturing Customer Value

You will be working with the Model of the Marketing Process (Figure 1.5, p. 33 of text) from the customer’s perspective.

• Select a company with which you personally have an emotional bond. Describe the product(s) or service(s) that you purchase from the company. Using the Model above, explore your relationship with that company:
The Customer (you):
1. What are your specific needs and wants that their market offering satisfies, and how?
2. What kind of information is the company collecting from you, and how are they using it? How does the company learn about its customers and markets?
Marketing Strategy:
3. Who do you think is their target market? What kind of market segmentation do they appear to use?
4. How is their market offering unique in your mind? (What sets them apart from the other competitive offerings that you also considered?) [value proposition] What other competitive offerings did you consider and reject?
Marketing Mix (4 Ps):
5. What is it about the product/service design or brand that is so appealing to you?
6. How did the price deliver better value (in terms of a cost/benefit analysis) than the other competitive offerings you considered?
7. How/where did you acquire or access the offering? (Was it directly, through intermediaries, etc?)
8. How did you learn about the offerings? How did the company communicate with you and promote their brand?
Customer Relationships:
9. How does the company build and maintain a relationship with you? How is it interactive? Does this relationship extend to other marketing partners?
Capturing Value:
10. How long have you been a satisfied, loyal customer, and what might break that bond? Have you made repeat purchases (of the same or other offerings) as a result of your “delight” with the company? Have you recommended the company to others?

Creating and Capturing Customer Value You will be working with t...