1. Selecting and creating of value Selecting is the first step of value framework. The firm finds out what all things constitute value in the estimation of the customer and pick them. Tata nano is the example of selecting and creating the value. First tatanano target the middle class people of india. Thereafter, tata group of industry made a car which known as NANO. It is under the budget of middle class people. Slogan of tatanano is “AAM ADMI KA CAR.”
2. Communicating the value Dimensions Size:123.7 x 62.4 x 13.6 mm Weight (with battery): 176 g Volume: 97.8 cc Keys and input methods Full QWERTY keyboard Home key, Power key, Lock key, Camera key, Volume key Finger touch support for text input . On-screen alphanumeric keypad and full keyboard Possibility to use capacitive stylus
3. Colours: Dark grey Silver white Power Management: BL-4D 1200 mAh Li-Ion battery Talk time (maximum): GSM up to 540 mins (9 h) Standby time (maximum):GSM up to 430 h Internal memory: 16 GB Chat instant messaging support: OVI Chat, Yahoo, AIM, Windows Live, Gtalk, MySpace* Unified MMS/SMS editor
4. 8 megapixel camera Fullscreen 16:9 viewfinder with easy-to-use touchscreen parameters YouTube browsing and streaming Video call support Stereo FM radio (87.5-108 MHz/76-90 MHz)
5. Delivering the value A firm task does not over by mere creation of the value. It has to deliver it and make it available to the targeted customer. Today, the new technology of IT- internet enhance the firm value delivery capability as they make one to one contact with a multiple of customer possible. As a eg, ebay, homeshop 18
6. Enhancing the value The firm keeps measuring the customer satisfaction level, collect their feedback on the level of the product, distribution and service and upgrade according to their value. . Eg.. Mobile phone, In beginning it was only a portable voice instrument but now they provide camera,fm,internet and many more.
7. Co creation . It means after taking feedback company develop the old products. We can take example of tv. The invention of television is the result of long-term efforts of several men. However, two important people whose names are associated with the invention of television are Vladimir Zworykin, and Philo Farnsworth.
8. It is the first television which was invented in 1922.
