A Model Of Customer Value For Consumer Market Marketing Essay

A Model Of Customer Value For Consumer Market Marketing Essay Satisfying customers wishes is a challenge for many companies in the todays rapidly changing and keenly competitive environment. A thorough knowledge of customer needs is even considered to be the foundation on which a company is built. (Mohr-Jackson, 1996) Hence, the researcher in this research has decided to focus the research on customer values. 2.0 Definition of Customer Values Walters (2002) explains that â€Å"value is an interesting concept. The underlying motivation for changes in customer expectations is a shift in the consumer perspective of value which has moved away from a combination of benefits dominated by price towards a range of benefits in which price, for some customer segments, has very little impact. Value is assumed to be the benefits received from a product choice less their costs of acquisition†. The benefits can be measured in price, quality, convenience, flexibility, response time, dependability of delivery, style and fashion, ethical issues, technol ogy and personalization. All these values are very important especially for the first time customers as in this high competitive business environment, customers will compare the value of product or service the competitor is offerings. The more values a company willing to provide, the more likely the customers are willing pay for the product or service. 3.0 Customer Value Models According to Fuller (1993), identify customer’s characteristic and develop customer value model are a very important part in satisfying the customer needs. The product and service characteristic must be produced and delivered and these tasks raise questions concerning the capabilities and capacities. Diagram 1: A Model of Customer Value for Consumer Market According to Day (1990), the original idea of â€Å"value equation† and emphasizing customers’ perception. This model (Diagram 1) integrates descriptive and normative points of view about consumer behaviour, including the consumer value s expectation before purchase, customer value evaluation at the time of buying, and value actualization in consumption or possession. According to social psychologists, people’s perception of objects and events is influenced by their cognitive traits such as personality and attitude, personal values, and consumption schemata. Besides that, it can also be influenced by the demographics such as age, education, income, wealth, and time resources. As indicated in Diagram 1, these factors of â€Å"Customer Characteristics† are the background of the customers’ perception. The buyers’ evaluation of a product purchase begins from their perceived product benefits. The earlier discussions of consumers’ product valuation have proposed a framework about how the customers perceive product benefits based on their terminal personal values and instrumental consumption values. In addition, the discussion has suggested and illustrated a typology of generic product b enefits with eight categories. As indicated in Diagram 1, the model suggests that â€Å"Perceived Product Benefits† could be a single type or a combination of the eight categories of product benefits. The model suggests that customer value is a consequence of subjective evaluation which in turn results from the summing up of the various perceived benefits and perceived costs, taking into account the differently weighted factors. In other words, the â€Å"perceived customer value† in the model is defined as the surplus or the difference between perceived benefits and perceived costs (Day 1990).

Challenges and Responses to Improving Geriatric Nursing Care Essay - 1

Challenges and Responses to Improving Geriatric Nursing Care - Essay Example The number of old-aged people seeking health care facilities is rising with no or minimal changes in the number of nurses specialized in the field. According to Hickman, University of Western Sydney and Newton (2007), most of the nurses attending to the old people have no special training. Therefore, apart from the shortage of nurses trained in dealing with the old, the already practicing nurses are offering substandard services to the old aged. This is because they lack professional competence in that area. Various reasons have contributed to reduced number of people training in gerontological studies, (Vincent, 2012). For instance, education institutions are faced with the challenge of handling large numbers of students. This leads to difficult in the institution offering the required facilities to the learners, hence leading to inadequate education. As such, nurses graduating from such institutions are not fully prepared to handle the elderly. Additionally, students find it diffic ult to pursue education program on care giving to the old age due to complexity of research projects undertaken in the field.The number of old-aged people seeking health care facilities is rising. According to Hickman, University of Western Sydney and Newton (2007), most of the nurses attending to the old people have no special training. Therefore, apart from the shortage of nurses trained in dealing with the old, the already practicing nurses are offering substandard services to the old aged.

Network Infrastructure Basics Assignment Example | Topics and Well Written Essays - 250 words - 2

Network Infrastructure Basics - Assignment Example This device allows one to place phone calls over the internet to any phone all over the globe. One fascinating thing about the VoIP is that the phone one is calling does not need to have VoIP for communication to take place. What is required is that the people being called should also be able to receive calls over the internet. In addition, interconnected VoIP services also allow one to make and receive calls to and from traditional landline numbers at no fee. Desantis (2008) notes that some VoIP services require the use of dedicated VoIP phones or computers, while others allow an individual to use landline phones to place VoIP calls through a special adapter. The other pros of the VoIP are that its usage is generally cost effective. Nevertheless, just like the threats facing internet users, new threats, scams and attacks that are unique to telephony are currently emerging and should be mitigated for effectiveness. IP or Internet protocol addresses are necessary if hosts have to communicate on networks that are IP based (Sinclair & Fong, 2002). The IP address is a set of four octets with each octet separated by a period. An example of an ID address is 172. 162. 54.12. When configuring an IP address, certain conditions should be met. The address includes both the host and network addresses. The subnet mask identifies the network portion of the address. When assigning IP addresses, each host must be assigned a unique IP address. When there are several hosts on the same network, each of them should have an IP address with the network portion being the same. The range of IP addresses that can be assigned to hosts in a network are subject to the network mask. 5. If you want to manually configure DNS server addresses, click Use the following DNS server addresses, and then type the preferred DNS server and alternate DNS server IP addresses in the Preferred DNS server and Alternate DNS server boxes. 1. To resolve an unqualified name by appending the