MOD001228: Using Appropriate Marketing Concepts/Models, Investigate the Perceived Customer Value: Marketing Management Assignment, ARU, Singapore

Assessment Details

Using appropriate marketing concepts/models, investigate the perceived customer value of a company of your choice addressing the following areas:

1. Using suitable models identify the customer perceived value for the customers for a company of your choice.
2. Critically evaluate the existing value proposition for the one you have chosen. Compare and contrast the value proposition with that of the leading competitor in its sector.
3. Benchmark the two value propositions, comparing and contrasting as appropriate, and reaching a justified conclusion[s].
4. In light of your analysis of your existing value proposition and what you have learnt in this module produce a new value proposition that will match the value criteria of the customers.
5. Produce a plan to implement the value proposition externally and internally.

Introduction to the Module

Welcome to the module Marketing Management. Traditional marketing has been based largely on predictable and static models of buyer behaviour where the exchange has been assumed to be transactional, and strategy based on tried and tested prescribed tools and techniques.

Present-day customers are sophisticated consumers of product and service offers, are mobile, articulate and can discriminate between alternative offers, and consequently make choices that hitherto were unthinkable. Individuals and organisations have significant switching power, can accept and reject offers quickly, and have portfolios of acquisition patterns that are unpredictable.

In fact, the term customer cannot be used in a generic sense for planning purposes, and transactional ideas of exchange have given way to the formation of close value relationships between supplier and consumer. What we regarded as a market, segmented by socio-economic groupings, or benefits has to be re-defined in modern marketing.

What this commentary means is that value propositions put together by organisations with the intention of targeting their offer in a general sense must instead tailor their offer towards individuals, and with an offer that creates loyalty and a bonding relationship that forms part of the brand strength.

This module will seek to examine these issues using a series of case studies from a range of industries. One of the main focuses on the design of this module has been the further development of relevant employability and professional skills. Such skills are implicit in the learning outcomes.

Learning Outcomes

This module, like all modules at Anglia Ruskin, is taught on the basis of achieving intended learning outcomes. On successful completion of the module, the student will be expected to be able to demonstrate the following:

Knowledge and understanding

LO 1. Identify the value proposition of an organisation and demonstrate how it provides a competitive advantage for the organisation;
LO 2. Critically evaluate the value propositions of a range of companies competing in a market sector;

Intellectual, practical, effective and transferable skills

LO 3. From the analysis of the value propositions in 1 and 2, synthesise a value proposition for a company identifying how it will gain a competitive advantage;
LO 4. Manage information from a range of sources in the formulation of a viable value proposition.