Summary: Value & Value Equity W3Kc2

Read the summary and the most important questions on Value & Value Equity W3KC2

• 1 Introduction

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• Can the same offering represent different value?

  Yes! 
  

  1. For different segments who value different things;
  2. The same offering can have different value in different situations, even for the same target group. 

• MEC is not only an explanation of our motivators, what else is it an explanation of?

  It is also an explanation of our value. The entire MEC can explain what Customer Perceived Value is because we are motivated to go towards objects that represent value to us.

• What in the MEC are marketers able to influence?

  We can influence the attributes. These attributes then immediately trigger a MECs and the customer will think: 'how much is this a means to an end that I value?'.

• List 3 examples of Terminal Values and Instrumental Values that drive people in general in their lives.

  Terminal Values (preferred end state of being):
  
  

  1. A comfortable life;
  2. An exciting life;
  3. A sense of accomplishment.

  
  Instrumental Values (preferred modes of conduct):
  

  1. Ambitious;
  2. Broad-minded;
  3. Cheerful.

• What do products and what do brands position themselves on?

  Products position themselves on consequence level; 
  
  Brands position themselves on higher values (become abstract because carry a lot of products). 

• What is Customer value? List the 5 characteristics.

  1. Perceived by consumers (vs objective); 
     
  2. Personal; depends on needs, knowledge, experience and resources;
  3. Specific to a use situation; 
  4. Linked to a product or service (vs value in general);
  5. Experiential; value is not in product as such but in the consumption experiences derived from it.

• The different paths in a MEC lead to different options for a part of the Value Proposition, which part?

  Different paths in MEC lead to a choice in the positioning of your product.

• 2 The 30 elements of value by Almquist

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• What do the 30 elements of value defined by Almquist represent?

  Companies position themselves on these values.

• What are the 4 levels of values that Almquist speaks of?

  1. Functional; 
     
  2. Emotional; 
  3. Life-Changing; 
  4. Social Impact. 

• How should you interpret the pyramid of Almquist?

  • Higher values: need lower values first & Point-of-Parity vs. Point of Difference; 
    
  • More is better; 
    
  • Relevance differs per category, target market & culture.