DANCEST 805 Lecture Notes - Lecture 12: Corporate Social Responsibility, Grater, Organizational Learning
Document Summary
Chapter 7 adding value to the business model. Creating value through values: when the business identity that is created it attractive to consumers, it can create value as part of the value proposition. Values-based marketing (marketing 3. 0) seeks to actively use customers to help sell existing products/services and develop new ones. It is based on establishing good relationships with customers, which is underpinned by mutual self-interest. Layers of differentiation: the functional core of a product is enhanced through aesthetics of design and reinforced by emotional values that are associated with the brand. Increased sales, brand identity and customer loyalty: csr allows to differentiate oneself: reduced operating costs and productivity gains: sustainability is about measuring and controlling inputs, and thus many environmental initiatives reduce costs. Setting prices: the more valued the brand is, the higher the prices charged can be, the price charged needs to be reflect the value-to-customer of the package of benefits for each segment.
