Business Marketing Essay

1037 words - 4 pages

"Everything is worth what its purchaser will pay for it." This phrase was said many centuries ago and is still worth today. Any time customer, in fact these customers whose costs are driven by what they purchase, increasingly look to purchasing as a way to increase profits and thus pressure suppliers to reduce prices. A good example beside the one in the article is when you are going to buy a car and you start searching about what car dealer is the best for you to buy yours. How can you decide which of the dealers it's the best for you, it is a good question. A growing number of suppliers have created a customer value models, that is no more than data-driven representations, of the worth in monetary terms, of what the suppliers are going to could do for its customers.I have been talking about values, but what they are and what values are in business is what I'm going to explain right now. In business market values are the worth in monetary form of the technical, economic, service and social benefits any customer receives in exchange for the price it pays for a market offering. An example of value in monetary term is dollars per unit, guilders per liter, or kroner per hour. On the other hand, benefits are no more than in which any costs a customer incurs in obtaining the desire benefits, except for purchase price, are included. And finally value is what a customer gets in exchange for the price it pays. In fact, value is one of the two elemental characteristics of marketing offer; the other one is price.Field value assessments that is the most commonly and accurate method used to build customer value models. This value is used to collect data about customer value models. However, if the field value does not work suppliers use direct and indirect survey question and focus groups. As everything in our life, the first time you do something is the most difficult. To get started with the customer value model the first thing a supplier need to do is to put together the right kind of value research team. In this team should be included the people with the product, engineers in the specified field, and people with marketing experience. This last option is very important because it is really important to have people who know the customer way of thinking. The next step is to know the right market segment. Knowing this, the suppliers create a base with at least twelve customers to build an initial value model. Then it is a good time to generate a comprehensive list of value elements. These elements will be the one that affects the costs and benefits of the offering in the customer's business. The elements could be technical, economic, service or social in nature and will vary in their tangibility. But suppliers have to be very carefully on checking which elements left out, especially those that might make the suppliers' market offering look unfavorable next to the next-best-alternative offering will undermine the projects credibility. By knowing as many...

Find Another Essay On Business marketing

Business Marketing Plan Essay

3247 words - 13 pages Coursework 1: Task: Marketing Plan for a new street wear (leisure/sports wear) manufacturer who does not wish to distribute goods via traditional retail outlets. Introduction. The purpose of this report is to develop a clearly structured and efficiently detailed plan, regarding the creation of a business producing and distributing leisure/sports wear clothes in UK. The business plan is designed to function under a focus-differentiated

Marketing the Business Essay

4737 words - 19 pages Marketing the Business Janice Reynolds has worked in a national chain sports shop in Harrow for several years, and is now intending to start a business of her own. She wants to start a business as a Sole Trader and set up a local sports retail outlet store somewhere in the local area. She knows that there will competition as there are other sport shops in the area, and knows the only way that

Business Finance and Marketing

2129 words - 9 pages , 2008), NPV method is considered to be the most superior technique and it’s most preferred to evaluate investments. The main reason behind this is that it takes account each of the following characteristics like relevant cash flows, timing of cash flows and the objectives of business (Atrill and Mclaney, 2004). Colin (2008) cited that it is easy to compute than IRR and also the ultimate goal of a firm is to maximise shareholder’s wealth, NPV leads to

international business marketing

2257 words - 10 pages its operations in US through General Mills considering also the fact the host country is a developed country and has very few restrictions on franchising. Franchising World (2007) defines ‘Franchising is a method of doing businesses’; The firm offers the host country the freedom to own, direct and manage their business, where the franchisee needs to comply with the rules of the firm in terms of site, location, business codes, marketing and

Marketing Business Plan

5609 words - 22 pages 'bottom line'. Business plans written at business unit or departmental level do not generally include financial data outside the department concerned. Most business plans are in effect sales plans or marketing plans or departmental plans, which form the main bias of this guide.Table of Contents1.Introduction…………………………………………&hellip

Marketing: Business Transactions Log ; Marketing Concepts

5482 words - 22 pages customer, because of a company's promotional efforts in effecting the marketing mix by target advertising to small entrepreneurs by furthering the business unit strategy of market penetration hides the fact that they carry inferior brands.3(Dissatisfying, PC Club)PC Club advertised in Nov 98 issue of the Computer Times a 533 MHz processor for $55. I went and bought at the local PC Club and within 5 minutes of installing on my motherboard it fried

International And Business-to-Business Marketing

3611 words - 14 pages International And Business-to-Business Marketing Business markets are "markets for products and services, local to international, bought by businesses, government bodies, and institutions, for incorporation, for consumption, for use, or for resale."[1] In business marketing, the customers are organisations, (businesses, governments, and institutions). An organisation is a group of people pursuing a common aim

Marketing in Today's Business World

1198 words - 5 pages in business. Marketing may be the element which determines the success or failure of a firm. Customers today have an increasing number of wants and needs and they are always looking out for new developments as well as improvements to existing products. Therefore it is important that an organisation differentiates its products from those of competitors through good marketing practices as well as keeps up with the changing market trends

HSC: Business studies- Marketing notes

1460 words - 6 pages ; Government: influences of regulations and policies regarding marketing.Developing marketing strategiesMarket segmentation and product differentiation· Mass markets: large demand for undifferentiated products meat, petrol, vegetables and other commodities.· Concentrated markets: Single market segments selected from a wider market. Business is able to service needs of customers more precisely in terms of price, product specifications

My Journey Towards Marketing Business

878 words - 4 pages supermarkets. Our store didn't have competition because the major store by us which was Safeway was closed for two years for remodeling. At the same time, be build some good relationship with our customers. Marketing Plan: You can create a successful plan for your business by not worrying about the way you present your marketing plan or making it look fancy. We need to understand your market and competitor. The more clearly and successfully you

A Business Plan - Marketing www.whatsnew.com

4853 words - 19 pages add value to the "WHATSNEW.COM" website.Online marketing communication strategy: Gaining traffic to website is one of the most crucial aspects of the online business because as every new website - no one knows about it unless creators put effort in e-commerce."WHAT NEW.COM" website will be added to most commonly used search engine websites like Google, AltaVista, Yahoo, AOL, Euroseek, Exactseek ,What-U-Seek. Online search engines are an excellent

Similar Essays

Business Marketing Essay

5209 words - 21 pages when a business offers a product with unique features. This is a smart strategy as it allows them to identify which products/design they should offer and which benefits they should promote. This affects increase in market share as it allows them to understand which products are being noticed by the public and how they can innovate that product further to create more sales for the business.To achieve marketing objective businesses will use the

Business Marketing Talking Business Essay

498 words - 2 pages The success of any business largely depends upon the ability to provide the right product, at the right price, in the right place using the right promotion and employing the right people to get the job done.These five factors - sometimes referred to as the 5 P's - are called the marketing mix and together they form the basis of any business marketing activities.Similar to the way a company develops a business plan to steer its future growth

Business To Business Marketing Essay

2635 words - 11 pages BUSINESS TO BUSINESS MARKETING - ASSIGNMENT NO. 1Marketing has been refined as a function that concerns all activities impacting on a customer (Gronroos 1990). It is the process of planning and executing the conception of ideas, and the pricing, promotion and distribution of goods and services. A company operates in a dynamic environment and researches and understands its customer, in order to design a marketing mix that exerts influence over

E Business Marketing Strategy Essay

1651 words - 7 pages December 16, 2008E-Business Marketing StrategiesThe gaining acceptance to the use of the Internet has required the marketing strategies of the online e-Business in the U.S. Developing business opportunities has given the Internet on business to innovations that has transformed to not just one business sector but in every business sector. With the new approaches has become to see the significant changes in the environment that requires these new