Creating Consumer Value

Stephanie Cherith Tucker

Creating Consumer Value

September 26, 2010

Article: Building Customer Value

Authors: Doug Billings, Rachel Berg, and Dirk De Waart

Publication Date: 01 June 2008

Publication: PRTM

Introduction

This paper is an analysis of the article shown above. I will compare the information given in the article along with perceptions and understandings described in the text, A Framework for Marketing Management by Kotler and Keller (2009). Subsequent to this will be my own acuity. I will also use sources outside the text and article to support related concepts.

Summary of the Article

In this article, “Building Customer Value,” customer satisfaction and loyalty is discussed and illustrated through diagrams and multiple suggestions. The authors propose many helpful hints to strengthen customer loyalty. Under the section, “Strengthen your foundation with customers-and grow your bottom line,” it recommends three key approaches to develop customer value. The article continues to highlight each approach with diagrams and information about companies that utilize this information like, Toyota, Virgin Group, and Cisco.

Not only does this article give valuable information to help strengthen any business, it also produces solid data through diagrams. The article also relates reality-based concepts to help readers understand the value of customer loyalty and how to maintain it. Under the section, “Making it Happen,” the article lists three principles that can be put into action; Ensuring the organization, make the customer-value benefit central to all operational strategy decisions, and measure customer value effectively and tie it to the motivational systems of the enterprise. All principles can be applied to any industry and are suggested to be equally important.

The article concludes that meeting the needs of demanding customers will be of great importance and possibly the central focus in the future. Unable to predict...