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MARKETING MANAGEMENT - Marketing Concepts

Value and Satisfaction - Marketing Concepts

   Posted On :  17.06.2018 10:59 pm

When the customers have so many choices to choose from to satisfy a particular need, how do they choose from among these many products?

Value and Satisfaction
 
 
When the customers have so many choices to choose from to satisfy a particular need, how do they choose from among these many products? They make their buying choices based on their perceptions of a product’s value. The guiding concept is customer value. A customer will estimate the capacity of each product to satisfy his need. He/She might rank the products from the most need-satisfying to the least need-satisfying. Of course, the ideal product is the one which gives all the benefits at zero cost, but no such product exists. Still, the customer will value each existing product according to how close it comes to his/her ideal product and end up choosing the product that gives the most benefit for the rupee – the greatest value.
 

 

Tags : MARKETING MANAGEMENT - Marketing Concepts
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