Ch3 understanding marketing (1)

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  • J. K. Sharma
  • Ch3 understanding marketing (1)

    1. 1. <ul><li>CHAPTER THREE </li></ul><ul><li>Understanding Marketing as Creating, Communicating, and Delivering Value </li></ul>
    2. 2. The Value Framework Chapter 3: Understanding Marketing as Creating, Communicating, and Delivering Value
    3. 3. <ul><ul><li>The framework is not a mere tool or technique, it represents a point of view about business. </li></ul></ul><ul><ul><li>The fortunes of the firm as a whole (not of marketing alone) hinges on the framework. </li></ul></ul><ul><ul><li>The entire strategy/value delivery system of the firm rests on the framework. </li></ul></ul><ul><ul><li>The firm’s capability for competing in the marketplace is embedded in the framework. </li></ul></ul><ul><ul><li>The framework- a corporate level concern/top management responsibility. </li></ul></ul><ul><ul><ul><ul><li>Why then is the framework bracketed with marketing. </li></ul></ul></ul></ul><ul><ul><li>The framework expects marketing to be cross-functional. </li></ul></ul>The Value Framework Chapter 3: Understanding Marketing as Creating, Communicating, and Delivering Value
    4. 4. Constituents of the Value Framework Chapter 3: Understanding Marketing as Creating, Communicating, and Delivering Value
    5. 5. Constituents of the Value Framework <ul><li>Capturing Value Back for the Firm from the Market </li></ul><ul><ul><li>Value Pricing- ‘offer value and capture value’ the dictum. </li></ul></ul><ul><ul><li>Offer Value and Capture Value, Bharti Telecom (Airtel). </li></ul></ul><ul><ul><li>Sachet marketing too an example of ‘offer value and capture value’. </li></ul></ul><ul><li>Communicating the Value </li></ul><ul><ul><li>Working out a value proposition. </li></ul></ul><ul><ul><li>Communicating the value proposition. </li></ul></ul>Chapter 3: Understanding Marketing as Creating, Communicating, and Delivering Value
    6. 6. <ul><li>Enhancing the Value </li></ul><ul><ul><li>A firm needs to direct its attention to both breakthrough innovations as well as incremental value addition. </li></ul></ul>Constituents of the Value Framework Co-Creation of Value Along with Customers Chapter 3: Understanding Marketing as Creating, Communicating, and Delivering Value
    7. 7. <ul><li>Market to be Seen as a Forum for Co-Creating Value </li></ul><ul><ul><li>Traditional ideas have to change. </li></ul></ul><ul><ul><li>Shift in treating consumers – from passive audience to co-creators. </li></ul></ul>Chapter 3: Understanding Marketing as Creating, Communicating, and Delivering Value Co-Creation of Value Along with Customers

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