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Level 138

Oriented Firm & Value Creation

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Good profits...
Earnings from creating customer value, which in
Bad profits...
Are earned at the customer's expense
What is Customer Value?
Value = (benefits) / (costs) {benefits divided by costs}
How do customers define benefits?
...not in terms of product and service features, but in terms of
Tools for Creating Value through Benefits
Product (Features, Performance, conformance, Reliability, package, design)
How do customers define costs?
not in terms of purchase price, but in terms of total tangible and intangible costs/savings over the relationship life cycle
name 6 life cycle costs
Search Cost (info available, product availability)
equation for firm value
Market‐ oriented companies manage three interrelated
What Does it Take to be Market Oriented?
Intelligence Dissemination entails...
Cross functional teams & job rotation
What is Marketing Myopia?
Short sightedness by business firms causing management