8.

Helps Create Value

Product orientation focus on marking innovative
products, good product will sell itself.
Sale orientation focus on sell as much as possible
Market orientation focus on what consumer wants
and needs.
Value-based orientation giving a greater value than
their competitors.
III.
What is Value-Based Marketing
Focuses on providing customers with benefits that
far exceed the cost (money/time/effort) of acquiring
and using products/services while providing a
reasonable return to the firm.
1. How Firms Compete on the Basic of Value
Adjusting their offerings to meet customer needs
and wants to keep ahead of their competition.
2. How Firms Become Value-Driven
Sharing information
Balancing the benefits and costs
Building relationships with the customers
o Transaction orientation anything that happened
before or after is of little importance.
o Relational orientation long-term relationship
o Customer relationship management (CRM)
systems that focus on building loyalty among
most valued customers.
IV. Why is Marketing Important?
1. Expand firms global presence
2. Pervasive across the organization
3. Pervasive across the supply chain supply chain
involves marketing
4. Makes life easier & provides employment
opportunities
5. Provides career opportunities
6. Enriches society
7. Can be entrepreneurial equally important to the
success of new ventures