Marketing Assignment: How does an organization create customer value?

Description Marketing is one business function that deals with customers. Creating customer value and satisfaction is at the heart of modern marketing thinking, concepts and practice. This can be

attributed to the fact that customers are the lifeline of any business and serve as the source of

current profits and future growth of an organization. Hence, in a hypercompetitive economy,

where customers are more aware and informed of their buying decisions, an organization can

stand out from its competitors’ only by fine tuning its overall value delivery process and

communicating superior value to the customers.

An example of one such superb marketer is Nike. The company’s strategy of building superior products around popular athletes has changed the face of sports marketing and has

created a huge base of loyal customers for them. This is because Nike knows that great

marketing goes beyond promotional hypes and false claims- it is delivering real value to the

customers and going above and beyond their expectations. Nike’s initial success resulted

from the technical superiority of its running and basket ball shoes. This catered to serious

athletes who were frustrated by lack of innovation in the sports gear category.

(Kotler P. and Armstrong G, 2007).

Nike targeted its customers aptly and focused on product development and innovation.

This customer centric approach has paid off handsomely to the company, who has built lasting

and value laden