total customer value and cost questions

total customer value and cost questions - 12 What do the...

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Unformatted text preview: 12 What do the concepts "total customer value" and "total customer cost" mean and how are they related? Use examples to illustrate your answer. 13 Susan Kr ‘ - a . gs out With Jamllla, Felrcue, and Sara and formed a fan club for a popular rock band. She has gone to her parents exlusive country club ever smce she can remember. She likes to take tennis lessons from Ashley her tennis Instructor. She is co—captain with Claire of her high school's varsity cheerleading squad. Her parents would like Susan to joine Haley and Helena in the Honor Society (and her grades are excellent), but she thinks its members are elitist losers. Her boyfriend Bane is a starter on the basketball team. In a short essay describe the different types of reference group that might influence Susan am: “MW- firms; three ways these groups might influence her consumer v.3 ti»: ‘. behavior. Haley Witts le S Clerks at the delJI-«H’tment store. It may be beneficial to look online - Public sources offer si ' ’ ' m . milar Edla consumer rating, and I'ganizat‘ -..____ benefits as they Include mass —_‘ 0 Ions. The final source option is experimental. This involves physicau handli ' - - - regfiw and usrng the Product. Maybe even purchasing a rug as a trial and m not the correct size or style. Reference: page 75 12. 7mm the perceived bundle of costs customers expect to incur in evaluating, Z obtaining, using, and disposing of the given market offering including monetary, time, energy, and psychological costs. Whereas, Total Customer Value is the perceived monetary value of the bundle of economic, functional and psychological benefits customers expect from a given market offering because of the product, service people and image. If a product had a high amount of customer benefits (value), then the product is desirable. if that same product has a reiativeiy low customer cost than it makes the product even more ideal! However, if the customer cost is :30 high compared to the cost of total customer value than the customer is likelyto look to a competitor offering a product with similar customer value and a more reasonable total customer cost. __— /——t \. Reference: pageSS ups in Susan‘s life which are effecting her decision to join 13. it appears there are different reference , é Honor Society and most likely affecting her censure-er behavior as well. Membership groups make up the largest majority of Susan’s interactions. The primary group contains her group of friends as well as her parents. Susan interacts with each of these people daily and their opinion has a large influence on her. For example Susan is more likely to wear the same brands as —-__—_,_—_‘—_ Jamilla, Felicie, and Sara as that is her core friend rou . They most likely have the same taste and opinions on what is ”cool" which defines what they will and will not do or purchase. The same influence applies for Susan’s cheerleading squad. As part of a team she will want to associate and assimilate (to an extent) with that group and their opinions. Another primary influence is Susan‘s bofiriend Bane. The secondafz group which has a smaller impact on Susan’s opinion would maybe he that of her country club as it is an organization she associates with yet it requires less continuous interaction. Haley Witts in Susan's mind, a? Reference: page 68 ...
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  • Spring '14
  • DennisSchwieger

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