What is the consumer value framework? As a consumer, we have certain behaviours and attitudes towards making a purchase. Today I have some wicked suggestions for you to add to your marketing strategy planning but I promise it’ll help soooo much.
After learning this topic, you should be able to:
- describe the consumer value framework, including its basic components.
- define consumer value and compare and contrast two key types of value.
- apply the concepts of marketing strategy and marketing tactics to describe the way firms go about creating value for consumers.
- explain the way market characteristics like market segmentation and product differentiation affect the marketing strategy.
- analyse consumer markets using elementary perceptual maps.
- justify consumers’ lifetime value as an effective focus for long-term business success.