Marketing : A Marketer, Does One Create Customer Value?

In order for a company to decide what marketing program will work, the company needs to have an understanding of how consumers make decisions. Consumers are quite unpredictable. So what might have worked yesterday or today may not work tomorrow. Therefore the marketers need to constantly improve their understanding of consumers and their behavior and form that adapt their marketing strategies to the changes in consumer behavior.

Consumers are the centre of many marketers work. While the consumer is part of the marketing environment, it is also very important to recognise and understand the more personal and specific influences effecting consumers and the nature of the decision making process they use.

The essence of marketing is value creation, where the goal is a long-term satisfaction by building relationships and attracting new customers by offering better value than the competition. Because marketing is based on exchanges where the objective is for all parties in the exchange to feel satisfied and gain some kind of value (Jobber and Ellis-Chadwick, 2013).

The key to creating an effective marketing strategy in business not only lies in creating value for the customer, but also in understanding that as they are more informed and investigative than ever, value creation must in fact be a collaborative effort with the customer (Lusch et al, 2008).

Understanding consumer behaviour is essential to succeed in business. As Solomon et al. (2013) stresses, businesses exist to satisfy consumer’s needs. By identifying and understanding the factors that influences their customers, firms have the opportunity to develop a more efficient strategy, marketing message and advertising campaigns that is more in line with the needs and ways of thinking of their target consumers (Perreau, 2015).

In today’s world of various products and services, businesses aim to excel and lead the competition by marketing the most number of consumers, which is a full time endeavor of business. To survive in the market, a firm or an organization has to be constantly innovating and understand the latest consumer trends and tastes. Marketers need to understand consumer behavior because the decision-making process for consumers is anything but straight forward. Consumers’ behaviors and their purchasing patterns is a huge advantage to understanding the way customers think and the reason for their purchases. Therefore, the study of consumer behavior is important because it allows the

This entire process is known as marketing management " the art and science of choosing target markets and getting, keeping, and growing customers through creating, delivering, and communicating superior customer value" (Kotler & Keller, p.5).

Understanding consumer buying behavior entails marketing, relationships, and consumer behavior. Consumer behavior comprises all the consumer decisions and activities connected with the choosing, buying, using and disposing of goods and services. Marketers must pay very close attention to consumer behavior that occurs before the purchase and after the particular product has been used. Studying consumer habits is one of the steps in marketing search and analysis. In addition to other basic principles of consumer buying habits, marketers also need to study the decision and actions of real people. Until recent history the study of consumer behavior was focused on generalized consumer decisions. With

This report aims to find out the relationship between customer value and marketing. In particular, it focuses on the necessity of marketing and the composition of customer value, research on the connection between these two concepts. In particular, it indicates four elements of a market, which are price, place, products, and promotion (4Ps). The other vital part of a market is customer value, it has been divided into instrumental value, hedonic value, expressive value and cost value. Customer value and marketing connect to each other through the supplier help people do better- buying decision and improve products through the customer value.

ANSWER:MARKETING AND CUSTOMER VALUE Marketing involves satisfying consumers’ needs and wants. The task of any business is to deliver customer value at a profit.

Marketing's role is to match the capabilities and resources within the organisation with market opportunities external to the organisation. Understanding customer needs is central to achieving this aim, but marketers must also be aware of factors that can cause customer need to evolve. A change in customer needs will impact upon the organisation's ability to serve its customers. This means that marketers have to be knowledgeable about what is happening in the external environment, or macro environment.

Marketers, as we learned in chapters, in my own term, are business people that analyze and study the way each individuals react on certain promotions that they were given and carefully examine and plan a suitable service and product promotion offering to consumers that they think that plan is appropriate for them. Consumer behaviors are not only seen by the marketers, but also can be seen by it’s own consumers as well. Consumer’s perspective of viewing a business and marketer’s perspective of viewing a business can be different sometimes. Without understanding each other, consumers will not be able to experience a service or find a product that can be a beneficial to them. In other hands, if marketers have trouble with understanding consumers, then they will fail to bring out a service or a product that meets the consumer’s requirement and it will end up being fail project. This is why customer’s feed back is important for every business. Businesses learn from what consumers think about their

They are many functions that marketing, but here are the four competing philosophies that strongly influence an organization’s marketing process, which are production orientation, sales orientation, market orientation, and societal marketing orientation. (Lamb, Hair, McDaniel, 2014).

Consumer traits and behavior affect the buying habits of most consumers. The different characteristics have psychological and social processes that influence buying habits of the consumer. Marketers need to understand these processes to be successful in meeting the demands of the consumer. The relationships between consumer traits and behavior play an important role in why people purchase a certain product. Social and culture settings influence the buying habits of the consumer and must be considered by marketing agencies. Understanding the way consumers interpret marketing messages is crucial in the ability to sell a product in today’s market.

The process of communicating the value of a product or service to customers, for the main purpose of selling that product or service is known as marketing. The science of choosing target markets through market segmentation and analysis, and understanding consumer behavior while providing superior customer value to the customers is termed as Marketing Management. It can be looked at as one of the most important of the organizational functions and a set of processes for creating, communicating and delivering the value to their customers or potential customers, and a customer relationship management that benefits the organization in a variety of ways.