Mkt10008 Marketing Principles-Business Strategy Answers Assessment Answers
Answer:
Marketing involves the art of managing relationship of customers with that of the company. Marketing involves a series of activities as creation, communication, delivery, exchange and offerings that are made to clients, customers, partners, society on a large scale (Blythe, 2008). Hence, all marketing endeavors are made to satisfy customers and focus on a multitude of activities. It is one of the key business processes of Business Management that is used in delivering value to customers. The term marketing originated from market which indicated purchasing and selling of goods as well as services. It is one of the prime revenue generation stream for the company.
Value proposition is the delivered of value promised across to customers. Value proposition can be the entire organisation or be a part of some service or parts that appeal to customers. Value proposition forms a part of unique business strategy which satisfies customers and delivers them uniqueness (Aaker, 2008). Value proposition creation involves analysis of cost versus benefits for products or services of the company that is successful in repeated purchases by customers. It not only renders competitive advantage but also delivers effectiveness in conducting businesses of the firm.
Coles Supermarkets in Australia is a leading retail store and its value proposition consists of fresh vegetables. Value proposition of Coles is unique compared to rest of retail companies that are present in Australian market. Hence, Coles makes use of such unique value to attract repeated purchases by customers.
Reference Lists
Aaker, D. K. (2008). Marketing research. John Wiley & Sons.
Blythe, J. (2008). Essentials of marketing. . Pearson Education.
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