Marketing is a value creating and value delivery process:
Earlier, we said that value creation value delivery is the main task of the marketing. We can now stretch the statement and say that marketing in it's entirely is a value creating and value delivering process. The whole bunch of the tasks involved in marketing. Serve the purpose of the value delivery. This actually from a sequence leading to value delivery. In any marketing situation, one can discern four different steps in the value for providing process:
1. Value selection
2. Value creation or value delivery
3. Value communication (making a value propositional and communicating it)
4. Value enhancement
1. Value selection: it is obvious that selecting the value to be offered is the first step in the value delivering process. Everything else follows. Only Offer selecting the value to be offered, can be firm proceed with production, sales and the promotion. What needs to be offered, can the firm proceed with production is that the firm finds out what constitutes value in the estimate of the customer and accepts it as the value to be offered. Value selection is thus not only the first step in the sequence but also the most crucial one.
2. Value creation or value delivery: this constitutes the bulk of the marketing job. What the firm has promised to provide the customer to be actually provided. The product offering must actually carry the benefits the firm has promised and it must be reached to the customer in the most satisfy manner. Value creation or value delivery signifies the successful execution of the firm's promise, most firm's fumble here the because they because they promise to provide all sorts of the things, but they fail to deliver, their products fail to carry the value where they were supposed to carry it. The entire film finds out what the functions and the activities are involved in this step. In creating and delivering the product with all the associated benefits, which the firm has decided to offer, technology, design and engineering have a role; finance management has a role; and the organizational set up also has a role.
3. Value communication: after selecting the value to be offered and deciding how the value has to be created or delivered. The firm has tries to communicate the value to the customer. In this step there are actually two components. The firm works out a value propositional and then communicates it to the customer.