Marketing Insights From a to Z: 80 Concepts Every Manager Needs to Know

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Marketing Insights from A to Z

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The marketing job is to create, deliver, and capture customer value.
What is value? Value primarily is the putting together of 
the right combination of quality, service, and price (QSP) for 
the target market. Louis J. De Rose, head of De Rose and Associ-
ates, Inc., says: 
“Value is the satisfaction of customer require-
ments at the lowest possible cost of acquisition, ownership,
and use.”
Michael Lanning holds that winning companies are those that
develop a competitively superior 
value proposition
and a superior
value-delivery system
. A value proposition goes beyond the company’s
positioning on a single attribute. It is the sum total of the experience
that the product promises to deliver backed up by the faithful deliv-
ery of this experience.
Jack Welch put this challenge to GE: