Value Creation in Marketing: Can Sales-Turnover turn to be a Competitive Advantage to the Marketer and Customer?
Md.Bakhtiar Rana ()
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Md.Bakhtiar Rana: Jagannath University, Dhaka
AIUB Bus Econ Working Paper Series from American International University-Bangladesh (AIUB), Office of Research and Publications (ORP)
Doing business based on value delivered gives companies the means to get an equitable return for their efforts. Once markers/suppliers truly understand value, they will be able to realize the benefits of measuring and monitoring it for their customers. In this highly competitive circumstance all the firms regardless of the local or multinational tend to focus on value creation in marketing, by any means, in order to make their customers satisfied. Value is usually made with a target to satisfy the ultimate customer, but value creation in sales-turnover also affects the channel members and cost function, as a result impacts on the volume of sales and customer satisfaction as well. This formulation integrates value management, brand management, and relationship management within a customer-centered focus. Companies can decide which driver(s) strengthen for the best payoff. In this paper an effort has been made to develop an integrated value model composed of different strategies with different value concept, which ultimately impact on the sales turnover and thus create a value throughout the marketing functions and achieve its ultimate target. The paper moves step by step, from discussion of the concepts evolved in relation to value creation in marketing, then induction and development of the conceptual value creation model with special focus on the minimization of duration of the Sales-Turnover for competitive advantage vis-à-vis value creation for consumers. Finally, a rigorous theoretical analysis is given with an experimentation of the value model on a company- Abul Khair Co. Ltd.- partially practicing this concept in their marketing functions. This inductive model can be a solid basis for further research of strategic marketing application.
Date: 2008-03, Revised 2008-03
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