Marketing

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Marketing Name Institution Marketing Definition Marketing is an activity, set of institutions, and process for creating, communicating, delivering, and exchanging offerings. These offerings have a great value for customers, clients, partners, and society at large (American Marketing Association, 2017). Customer Value Proposition A value proposition refers to the additional value a company provides to the customer. It is different for all customer segments. It shows what additional value the product delivers which makes it superior to the competitors’ product (Principles of Marketing, 2010). Difference between Marketing Process and Advertising The marketing process is a bigger thing while advertising is merely a small part of it. According to Kolter (2008), marketing process includes following steps: 1. Awareness about marketplace and customer’s needs and wants 2. Developing a marketing strategy best suitable for the target market 3. Structure an integrated marketing program 4. Developing beneficial customer relationship by ensuring customer satisfaction 5. Receiving value and enjoying achievement for buyers Advertising comes under the fourth stage of the marketing process. Goals of Creating a Strong Value Proposition The major goal of a value proposition is to capture the attention of customers and make them understand the greater value your brand is offering which the competitor is not providing. Moreover, the target is to focus on the issue that the customer is most sensitive to or feel neglected about. For example, for my new business of mobile phones, I would give an extra handsfree or battery, as people are sensitive for them. Unique

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