Marketing Management Essay Example | Topics and Well Written Essays - 3250 words

Marketing Management - Essay ExampleAccording to Kotler (2003), customer perceived assess (CPV) is the difference between entirety customer value and total customer cost. Total customer value includes four factors product value, services value, image value and personnel value and total customer cost includes age cost, monetary cost, psychic cost and energy cost (Tseng & Et. Al., 2007).The enhancement of the consumer perceived value can be achieved by increasing total consumer value or by reducing total consumer cost. This can be understood better with the help of an example of Wal-Mart, the UK based retail chain of stores. To enhance the consumer value they gallop huge assortments in merchandises. There are various options available for the consumers to chose from the various brands and their private level brands. In reduction to consumer cost, Wal-Mart offers everyday low pricing strategy. This crack allows the consumers to save certain amount of money through the low pricing s trategy of Wal-Mart. This helped Wal-Mart to cater its consumers added value through higher level of satisfaction (IMD, 2009).This simulate suggests that how accredited and desired values adjust well into a disaffirmation type satisfaction model. The overall satisfaction can be known as the consumers judgment in reaction to assessment of understanding with the products and services.When the consumers make an evaluation, they create certain notions, developed from the past and present experiences about the value that they desired. The desired value directs consumers when they structure perception of the products or services whether it has performed excellently or weakly in the utilisation circumstances. The consumers derived value is evaluated upon experiences they use on certain attributes of the experiences, performances and consequences.The received value may guide in the creation that is generally