term1 Definition1term2 Definition2term3 Definition3
Please sign in to your Google account to access your documents:
What are the 4 major types of value that can be created?
1. Functional/instrumental value: Value of traveling from point A to B.
2. Experiential/hedonic value: The extent to which a product creates appropriate experiences, feelings and emotions for the customer.
3. Symbolic/expressive value: The extent to which customers attach or associate psychological meaning to a product.
4. Cost/sacrifice value: Minimize the costs and other sacrifices that may be involved in the purchase, ownership and use of a product.
What are the 5 major sources of value?
1. Information (created by e.g. advertising, PR, brand management)
2. Product (created by e.g. new product development, market research, R&D, production)
3. Interactions (between customers and organizations’ employees or systems created by e.g. activities related to recruitment and training, service quality, and operations)
4. Environment (created by e.g. facilities management, interior design and merchandising)
5. Ownership (created by e.g. accounting, delivery, transfer of ownership such as contracts)
no more Q
Need help typing ? See our FAQ (opens in new window)
Please sign in to create this set. We'll bring you back here when you are done.
Discard Changes Sign in
Please sign in to add to folders.
Sign in
Don't have an account? Sign Up »
You have created 2 folders. Please upgrade to Cram Premium to create hundreds of folders!