Criestefiel Ann S.

Lolo
Grade 12 Gates

PRINCIPLES OF MARKETING MARKETING

Quarter 1 - Module 4
CONSUMER VALUE

I.

1. What does each person consider to be ‘value’?

Values also are the ones that motivate and guide our actions. That is, values are
the motivate of our purposeful actions. To simply say,values are the reason why
we act that way or this way.

2. Are there any other ways of thinking about value to customers?

The best way to learn what your customers find valuable is to ask. Customer
feedback and suggestions can help you improve your offerings and maximize the
value of your products or services. Consider sending out surveys, asking for
reviews and making it easy for customers to contact you
II.
Consider a situation where you are opening a new ice cream shop. Explain the
importance of customer value in setting the prices of the ice cream that you
plan to sell.

The price you charge for your product or service is one of the most important
business decisions you make. Setting a price that is too high or too low will - at
best - limit your business growth. At worst, it could cause serious problems for
your sales and cash flow.
If you're starting a business, carefully consider your pricing strategy before you
start. Established businesses can improve their profitability through regular
pricing reviews.
When setting your prices you must make sure that the price and sales levels you
set will allow your business to be profitable. You must also take note of where
your product or service stands when compared with your competition.
This guide shows you how to build a pricing strategy and how to work out your
costs and pricing to make sure your business is profitable. It also looks at different
pricing tactics and changing your prices.
III.

1.What could I do to create Value for my Customer?

You can do that through:

* Identifying what you're good at and owning it.
* Make your value proposition clear in all your communications.
* Ask customers why they buy from you, use feedback to boost your value
proposition.
* Quantify your value with real data.
* Communicate the benefits of your service so customers can see the value.

2.What can destroy Value for my Customer?

 Since customer value is the difference between economic value gained and
cost expended, any price increase without a commensurate increase in
economic value will actually destroy customer value. This does not mean
that increasing your pricing is bad; it means that when you increase price,
you must also increase value.

3.Does experience create Value?

 Yes
4.List things that you do not experience that can create Value for you.

 travel with friends coz you can encounter wonderful places and nature.