This video highlights that managing customer value is twofold; it involves creating value for customers as well as capturing that value. It provides a number of tips for accomplishing these tasks, such as segmenting customers, understanding their needs, and developing a strong value proposition. More conversation about this topic: Create Value for the Customer and Read More …
Brand identity is the backbone of any company’s marketing efforts. You know your brand identity should resonate with your target market, making them feel connected and welcome to your company. Your brand identity should also be unique and different from what other companies in your industry are doing. The goal of a branding strategy is Read More …
When identifying customers, companies typically use one of two methods: segments or clusters. Segments are groups of customers who share similar characteristics, while clusters are groups of customers with similar purchasing behavior. Market Segmentation Segments can be helpful in that they provide a way to quickly and easily identify similarities among customers. This can be Read More …
To manage customer value, companies must understand what it is and how it is created. Most experts agree that customer value is created by initially addressing a customer’s problem. Once the problem is solved, the customer is delighted, and the company has a chance to sell them more products or services. It is essential for Read More …
Charging what your product is worth is one of the most important factors in increasing sales. If you’re not pricing your products at a rate that reflects their value and what they can offer customers, you’re missing out on an excellent opportunity to increase sales. Accurate pricing of your products is especially important in today’s Read More …
The economy may fluctuate, but people’s lifestyles and preferences don’t change. People will often pay extra for what they want, regardless of the state of the economy. In tough economic times, mid-priced products and services – those of average value – are often lost. Low-priced, low-value alternatives and high-priced, high-value options tend to thrive. It’s Read More …