Can marketing create a real value for consumers?

All companies mainly nowadays try to attain goals such as profit maximization. However due to strong competition in the market companies more and more started worrying about retaining with the same consumers. Companies started caring about relationship marketing, when the consumer can see a benefits of using particular company’s services just for being loyal. Plenty of companies offer different memberships or discounts for next purchases, although still most of them offer discounts for new customers mainly. But can there be created any value for consumer, when initially we advertise and sell the goods and services for profit only? Below there are some examples of the values every company can try to create for its’ costumers.

First of all every company, can sell the goods at the best possible price, after doing market analysis, as well as trying to provide the costumer with the best quality of services and products. So the main idea within the value creation for the customer in marketing is monetary value creation, where best possible price + quality of services + customer service equals to value and satisfaction maximization for the customer. Hovewer here it is easy for companies to fail, because essential thing is to find what exactly specific business’s target market want. Not always price is essential, some costumers may worry about prestige or safety for example. On those steps every company makes deep market research and after that advertise the products to particular costumer’s group. But does those strategies really work in 21 era? Do some particular companies really can offer much beneficial price or service and whether those couple of dollars discounts will affect in any way the costumer?

Secondly, costumer’s perceptions have changed drastically during last years. Costumers seek for more value than price, marketers try to create new values for customers and being original in that. Companies advertise services where you can see other values, for example restaurants’ such as Macdonald does not position itself as a cheap food restaurant, but a place where you can come with children and have fun time in there. Another example of marketing through education value creation might be cafes in the University libraries, they position themselves as a place where you can study and have a cup of coffee. In Lithuania in lots of book stores there are cafes inside, which positions café as a place for reading not a place for saving money on cup of coffee.  In my personal opinion the most challenging marketing campaign for value creation and probably one of the good examples of how should the value be created would be Dove’s campaign for real beauty, which amazingly touches the heart of every woman who see it. And the company managed to create a value for costumers in perceiving themselves beautiful. The Dove had to conduct huge research to understand what really matters and what can make difference. Another example would be food companies who more and more trying to create value through positioning their products as good for health. Another example would Apple’s value creation which all lies within providing special customer experience, in Apple stores, all applications for Apple tool users and etc. And last but not least would be famous the “DE BEERS” diamond company’s “value” creation through showing love to beloved ones through buying diamonds.

Thirdly, in creating real values for costumers it is very important to retain two-sided communication with costumers to realise costumer’s issues. But what is more important is to realise people’s need on a broader basis, because mainly all business due to new technologies are globalized, and it is important to see major problems worldwide and to target them in the marketing campaign. We see that people spend more time online and less time with families, what means it is useful to position your restaurant as an example as a place for spending time with families. In the end we get all of our inside values marketed, family, friends, love, and education, inside feelings about beauty. But whether it is good or bad? Maybe it is better if the world will constantly remind us about truth values and companies through their campaign will try to maintain them rather than providing us only with challenging price discounts?

Finally, if the marketer in every company would think about: “What important values can I remind to the whole world through advertising and positioning particular company?” maybe then the world will become the better place?

picture-value-creation

References:

    1. David Aaker , ”Dove: The Most Impressive Brand Builder”. Retrieved from:

    https://www.prophet.com/thinking/2013/05/138-dove-the-most-impressive-brand-builder-in-the-last-15-