Value Proposition & Delivery In Marketing In

Current Covid Scenario

Done by,

GUGAN N (2013035)
KARISHMA C (2013051)
SUJITH KUMAR N (2013103)
TAMILARASAN ESWARAN (2013107)
JAMALUN (2013121)
Introduction:
A value proposition speaks about, the value a company promises to deliver to
customers, should they choose to buy their product. Benefits which we are providing to our
customers should help them in many ways that are better than our competitors offer. Our
value proposition should reflect our support to the customers

4 key elements for good value proposition in covid situation:

• Who is the customer, who is value for (customer)

• What problems are we solving for the customers (problems)
• What is the solution and how it is solving the problem (solution)
• What is the differentiators and how it is different from my solution, which already out
there (differentiators)
Our solution should always fit into the customer needs, like wise some brands came
out with innovative plans or products according to the current market situation.

Apple face mask designed by iPhone team to curb covid-19

• Apple inc. developed these masks to distribute to corporate and retail employees in
order to limit the spread of covid-19, this shows the social responsibility of their brand
as well as it meets the solution for the current situation
Reliance trends provide discount price

• They started giving regular quality of products at a discount price , so this adds value
to their customers.

BACKGROUND OF THE STUDY:

The small and mid-tier companies should identify what value means to the customers
and work on it more.

They should also think about how they can provide additional value to the traditional 4
P’s of marketing.

Think solution not just products:

In this pandemic, the marketers should not think about the product innovation but find
a solution which satisfies the customer’s needs. They should position their product as how it
is differentiated from other products; throughout this crisis the marketers are proving that
their products are more concerned about safety and security.
 Let us take some live examples, how brands modified their value preposition and
delivery for their customers in this Pandemic situation.

Consider Pomchies:

For the past 20 years the company was producing fashion headbands, scrunchies &
water bottle carriers which are popular among the young generations. But in this crisis they
have introduced Non-medical face masks which satisfy the currant shift in customers need
and gaining attention.

Think access, not just place:

Product shortage and empty store shelves dominated the news headlines and social
media. This restricted the customers visiting the stores directly and they went for online
shopping.

The polish vending Associations faced this situation by providing face masks, gloves
and sanitizers by installing new vending machines on the streets of Warsaw & Krakow. This
enabled the customers to access products whenever they needed.

Think value, not just price.

Customers are suffering from several financial troubles during this situation. The
brands having high pricing policy are losing their value among the customers. To overcome
this situation, the companies used some strategies. They are:

➢ In restaurant industry, they have trimmed their menu option to essentials &
reduced their prices.
➢ Durable goods manufactures have increased their price instead of decreasing but
extended warranties and satisfied customers.
➢ For non-essential goods, there were offers and discount with the aim of stock
clearance. But customers were attracted with the cheap prices and started
buying.

Think education, not just promotion:

In recent times, most of the companies tend to cut their media budgets. Some
companies concentrated on creating awareness and educating about appropriate behaviors
during the crisis and communicating how the business and the brand understand and support
their current needs.

If companies cannot concentrate on delivering value to the new market on the first 3
P’s, they can gain value through communicating or educating activities.
KEY OBJECTIVES:
➢ To study about certain value proposition methods with some real time examples.
➢ No. of suggestions how to add value to your customers.
➢ To study how companies, deliver their value proposition.

Methodology:
Supporting customer results during market instability:

We witnessed rapid change in stock market and the economic condition of the world
since 2020 March. Which helped to find the how financial advisory company managed
effectively and timely manner to safeguard their client’s investment portfolio from huge
market crash.

From this we can understand that company with innovation in technology on their
platform, like HUB24 made the company to follow up on their clients and opened the value
through gripping their functionality, which is available on their platform. Therefore, in doing
as such, guides can adjust, rotate, and quickly change portfolios to increase the value of their
customers and, by and large, safeguard an incentive in their customers' portfolios.

As overseen portfolios market advances, the worth that they are giving to counsel
organizations and their customers is clear. Innovation, and the job it plays in building and
enhancing customer portfolios, is the key differentiator. The privilege oversaw portfolio
arrangement furnishes monetary consultants with significant extension to make and include
value, and to work with customers to improve venture results.

Mennie, B. (n.d.). THE JOURNAL FOR MANAGED ACCOUNT PROFESSIONALS • FS

Managed Accounts Supporting client outcomes during market volatility Managed
portfolios. www.fsmanagedaccounts.com.au

FINDINGS:

1.STAND FOR CUSTOMERS AND HELP THEM IN HARD SITUATION:

Your customers are your key for the success, so in situation like this you have to stand
with your customers and help them to recover or a small contribution to survive this kind of
situation which adds certain value to the customers. In this kind of situation the market
remains silent for months so you can utilize this situation and make some innovative product
which is completely apart from your mother product and that should make sense to your
customers why are you created this product.
 Here is an example: you knew that Apple is named for their mobiles, tablets and
laptops. But now they want their customer safety so for that they have made a product which
is completely apart from electronics. The product is APPLE N-95 MASK. Their customers
feel that they are helping them to overcome this situation.

2.SELLING REGULAR QUALITY OF PRODUCTS AT A DISCOUNTED PRICE:

Your customers are also going through the same situation that you are experiencing.
So, you have to support your customers in return you will receive support from your
customers. Be patient and use your pricing perspective to retain back your customers and
that also add certain value to your customers. But you should give your products at your
regular quality. If you reduce quality your value proposition will go down and customers will
go away from you.

Here is an example: Reliance trends is giving 50% discount to the customers (ie if you
purchase for rs.6000 you are asked only to pay rs.3000) but they are also giving their regular
discount coupons for the worth of their buying. This offer has attracted their loyal customers
and some new customers by the positive word of mouth by their loyal customers.

Suggestions /recommendations/ group views

Create a content:

A good way of connecting people in this crisis is through social media. People are
more into social medias now a days compared to recent past, so we have to use this
opportunity to make sure that our products gets closer Infront of people through online
process. We have to stay connect with our customers so that we must not make them think
about our competitors.

Thinking time:

Thinking time is which a marketer should spend time on thinking, must start putting
strategies and as a marketer we must know what opportunity we have in the market, to serve
and take advantage of. Here taking advantage is not about people, its about taking advantage
of situation.

Take signature actions, and adjust value proposition:

We must adapt according to the situation and we must change our value proposition
that will help to serve according to the customer needs. We must evaluate market pricing to
reflect the new market dynamics. We must Consider the conditions and should plan
according to it. More than considering the situations we must understand how customers
need and perceived value has shifted.

CONCLUSION:
It is important for organizations to add value to their customers and solve their problem
through their products and services. But in this condition value proposition is the one of the
keys to retain back their customers. Since, customers are also expecting certain values,
organizations has to react faster when compared to their competitors.

Identify customers’ needs and problems according to the situation and make plans and
strategies which paves way for the value proposition. Like the way Apple and Reliance
trends did.