Marketing Management

Assignment guidance notes Semester 1/2 2011/12

Please find below some guidance on reading and models which you can use when answering the questions for this assignment.
You should note that the main focus of this assignment is on the testing of your ability to apply models and theories to practical
applications. You will be marked therefore, on the application of the model rather than a discussion of the model itself. You are
free to choose any suitable model which enables you to undertake the analysis required and provide the outcomes I am looking for
in the question.

1. Using suitable models identify the customer perceived value for the customers for a product/division/company of your
choice [20% of the marks available]

The aim in this part of this assignment is for you to identify and explain what the perceived value is for the customers for your
product/division/company. To do this you need to understand the models of consumer value, either in a consumer to consumer or
a business to business context, and then apply them to the customers of the business you have chosen.

Recommended reading:

Eggert, A. and Ulaga, W. (2002), Customer-perceived value: a substitute for satisfaction in business markets?, Journal of Business &
Industrial Marketing, Vol. 17 Nos 2/3, pp. 107-125.

Flint, D.J., Woodruff, R.B. and Fisher Gardial, S. (2002), Exploring the phenomenon of customers desired value change in a business-to-
business context, Journal of Marketing, Vol. 66 No. 4, pp. 102-17.

Holbrook M., B., (1999) Consumer Value A framework for analysis and research Abingdon: Routledge

Holbrook M., B.,(2003) Customer value and autoethnography: subjective personal introspection and the meanings of a photograph collection
Journal of Business Research, Vol 58, pp 45 61

Lindgreen, A. & Finn, W., 2005. Value in business markets: What do we know? Where are we going? Industrial Marketing Management. 34,
pp.732- 748.

Payne, A. & Holt, S., 2001. Diagnosing Customer Value: Integrating the Value Process and Relationship Marketing. British Journal of
Management. Vol 12 (2), pp 159 - 182.

Ulaga, W. and Chacour, S. (2001), Measuring customer-perceived value in business markets: a prerequisite for marketing strategy
development and implementation, Industrial Marketing Management, Vol. 30 No. 6, pp. 525 - 540.

Ulaga, W. and Eggert, A. (2005), Relationship value in business markets: the construct and its dimensions, Journal of Business-to-Business
Marketing, Vol. 12 No. 1, pp. 73-99.

Ulaga, W, (2003) Capturing value creation in business relationships: A customer perspective, Industrila Marketing Management 32 pp 677
693

Woodruff, R.B., 1997. Customer Value: The Next Source for Competitive Advantage. Journal of the Academy of Marketing Sciences. 25(2),
pp.139-154.

Zeithaml, V.A., 1988. Consumer Perceptions of Price, Quality, and Value: A Means-End Model and Synthesis of Evidence. Journal of
Marketing. 52(July), pp.2-22

2. Critically evaluate the existing value proposition of the product/division/company you have chosen. Compare and
contrast the value proposition with that of the leading competitor in your sector. [40% of the marks available]

In this part of the assignment you are looking at the value proposition of the product/division/company and comparing it with the
leading competitors value proposition. For both organisations you will need to also identify how much they match the customer
value identified in part 1 above. This is a critical evaluation of how good or bad they are.

As noted in the lectures, the value proposition is often just a statement, so you need to evaluate how the organisations have
created the value propositions by looking at their value creation process to see if they are making statements which reflect their
ability to offer a suitable value proposition to the customer.
Recommended reading:
The following texts offer a number of models and processes to create the value proposition any of which are suitable for you to use.
As noted above it is the application of the model through your analysis that I am most interested in.

Andreson, J.C., Narus, A.J. & van Rossum, W., 2006. Customer Value Propositions in Business Markets. Harvard Business Review. March,
pp.91-99.

Barnes, C., Blake, H., and Pinder, D., (2009) Creating & Delivering your Value Proposition London: Kogan Page

Dubois,, P., Jolibert, A., Muhlbacher, H., (2007) Marketing Management A Value-Creation Process (2007) Palgrave Macmillan Basingstoke

Fifield. P., (2007) Marketing Strategy: The Difference Between Marketing and Markets. 3rd ed. Oxford: Elsevier Butterworth Heinemann

Frow, P. and Payne, A. (2008) The Value Proposition Concept: Evolution, Development and Application in Marketing Academy of Marketing
conference Reflective Marketing in a Material World, Aberdeen, July 2008, Academy of Marketing, Helensborough

Johnson, M.W., Christensen, C.M. & Kagermann, H., 2008. Reinventing your Business Model. Harvard Business Review. (December), pp.51-
59.

Piercy, N. F., (2009) Market-Led Strategic Change. 4th ed. Oxford: Butterworth Heinemann

3. In light of your analysis of your existing value proposition and what you have learnt in this module produce,
a) a new value proposition that will match the value criteria of your customers, and
b) a plan to implement the value proposition externally and internally. [40% of the marks available]

In this final part of the assignment you need to provide:

(a) a new value proposition that will match the value criteria of your customers you should have identified weaknesses in the
 existing value proposition of the product/division/company in the second part of the assignment. You now have the
opportunity to provide me with a new value proposition statement which matches more closely the customer value of the
business.

(b) a plan to implement the value proposition externally and internally this should be an outline marketing plan of how the new
value proposition will be implemented and communicated to the customers (external) and employees (internal customers).
The plan should be brief with the main points in the script and supported by additional information on appendices.

Recommended reading:

Ahmed, K. P. & Rafiq, M. (2002) Internal Marketing tools and concepts for customer-focused management Oxford: Butterworth Heinemann
Elsevier

Barnes, C., Blake, H., and Pinder, D., (2009) Creating & Delivering your Value Proposition London: Kogan Page

Best R. J., (2009) Market-Based Management Strategies for Growing Customer value and Profitability (5th ed) Pearson New Jersey

Dubois,, P., Jolibert, A., Muhlbacher, H., (2007) Marketing Management A Value-Creation Process Palgrave Macmillan Basingstoke

Fifield. P., (2007) Marketing Strategy: The Difference Between Marketing and Markets. 3rd ed. Oxford: Elsevier Butterworth Heinemann

Kotler, P., Keller, K. L., Brady, M., Goodman. M., Hansen, T., (2009) Marketing Management. Ist European edition Harlow: Prentice Hall

Piercy, N. F., (2009) Market-Led Strategic Change. 4th ed. Oxford: Butterworth Heinemann