Value added is very important interm of retainment of old customers. These are part of the benefit the actual consumers derived in using the productCustomers are the king, they keep us in business. we do any thing to make our customers happy and come for more.One actual consumers is better than 50 p[otential customers.
By
ojerumu ernest, Head, Client Service/Production, Michael Burnet Services
| 07 01 2010 11:56:04 +0000
In my opinion, present customer more interested in price reduction of product, there are some special class of customers who had time to think in detail about product & value addition facility on it. overall, they come with a mindset of proper brand & size.
By
rakesh kumar, Finance/Budgeting Manager, navyug motors
| 07 01 2010 10:52:20 +0000
a target audience duly segmented and when the product positioning matchesthe segment and the appropriate strategy will hold good for that segment and it goes well with that value system that segment will appreciate. we can't have a universal prescription by and large. But we have to define what is value? and ofcourse there are universal values which need not be breached irrespective of the audience or segment. P.M.N.Krishnan
By
p.m.n.krishnan , ADMINISTRATION, NGO TRUST
| 05 22 2010 04:56:00 +0000
''VALUE-ADD REALLY MEANS A LOT ,IT ALL DEPENDS ON THE NEED OF CUSTOMER AND HIS SATISFACTION, AT THE END OF THE DAY BUSINESS MATTERS, ITS ALL WIN-WIN RELATION. VALUE-ADD HELPS IN DEVELOPING RELATIONS
By
sujit kumar khond, Medical Rep., Novaritis vaccines
| 05 21 2010 15:18:23 +0000
It depends on what type of value add and how well it is received and perceived by the customer. If the value add is important to the customer or if it is meeting his need and expectations and if it delights him then the value add will grab the customer and will gain more market share. If the value add is not meeting customers expectations and needs, it is not worth of giving that type of value add, which will be only an expense to the organisation
By
Girish , Marketing Associate, Aircel Ltd
| 05 21 2010 10:50:18 +0000
actualy consumer have chang there manatalty for goods/product.they preffer for quality as well as brand.becouse present senario they are aware from goods/product and also they are ableto purchase a quality product
By
vineet shukla, senior seles exicutive, IDBI Bank
| 05 20 2010 16:07:57 +0000
The way i understand the question is that "are people becoming blasse about value additions?" The answer is a YES. Unfortunately, we come to know first about value adds only from marketing techniques. Cars that give more milage, 20% extra toothpaste for the same money, reduced emissions and so on. The question is that how many of us abctually verify these claims. Not long ago, a major indian car manufacturer advertised a small car at 17 kmpl. I and my wife actually bought the car. It is now 3 years down the line and no matter what we have done, the car has never given anything other than 13 to 14 kmpl. The manufacturer responded that the numbers used in marketing are under test conditions. Then why announce an unrealistic, irrelevant data and draw customer's attention to a non-existant value addition. What I am trying to point out is that most people have become blasse not because they get the value add but mostly because they know deep within themselves that they are not going to get it.
By
RAMESH KANDADAI, Principal Consultant, ARM Consultants
| 05 18 2010 03:24:39 +0000
With customer expetation changing more and more products needs value addition in them. The consumer preferes a product which is more flixible, easy to use and is priced low rather than fancy goods with heafty price tag.
By
shriram chaudhari, Dy Manager Projects, CEPL
| 05 17 2010 14:32:24 +0000
Value add to a product is still there but to some extent than compared to past times. More focus as on date is on looks, cost and prestige issue. Technological superiority still matters which argues well with the status enhancements.
By
Vishal Jindal, General Manager, Autopace Network Pvt Ltd
| 05 16 2010 14:49:51 +0000
Value-add plays very little thing to Consumers. At the time of buy, the primary & most important parameter one consider is" the Need & the Cost". Explicitely, we can observe it from China's business. Still, Consumers buying Japan-make are there. But, they are a few. Many yield to buy the China- make which is easy for the purchase as far as Consumers are concerned.OBVIOUSLY, ONE CAN INFER THAT CONSUMER DOES NOT SPECIFICALLY FOR A VALUE-ADD PHENAMENON.
By
KALIYAMOORTHY , Oil & Gas Area Coordinator, Undisclosed
| 05 15 2010 14:02:34 +0000
|
Value Addition for any product should be looked in terms of retaining our existing consumer base..To gain new consumer, value addition might not be a right thing to concentrate. To gain profit you need to increase your customer base (existing + new addition) for which you require value addition. So Value Addition will become a thing of passe in the business world. Lets take the example you have given - Micromaxx mobiles are offering good value for money with additional features which were not there in lower priced handsets. Nokia with its brand name offers user-friendly & simple to use mobiles with a high price compared to Micromaxx or other players in the market. So people who are loyal to or conscious about brand will always stick with Nokia. Because they are least considering Value addition as tool to stimulate demand. But for those who have bought Micromaxx and using it for a while, might feel that it offers value addition and spread it through word of mouth to create awarness.
By
VIJAYAN M, Project Lead, Millward Brown
| 07 01 2010 10:00:05 +0000
To keep the brand in a sustained levels to satisfy the loyal customers value adding is most important,if it is fads category i agree for your statement but for FMCG with out doing any value added or upgrade for a long time actually it's a suicide deceion for ever,on the other hand you are killing your brand purposely Raman Saseenthren
By
R.Saseenthren , Freelancer, FMCG/Foods/Beverage
| 05 29 2010 16:42:35 +0000
I still belive that still loyalty can be gained through value addition. Ofcourse for action for first purchase that temptation should be there in the product .
By
SANKET MALAIYA, BUSINESS HEAD, WANBURY LTD
| 05 23 2010 10:43:59 +0000
Hai, the example was too good, but value added comes under after sales only. How Miromax is benifited to the customer at the time of issue arises. Customer service is comes under this category. Providing added benifit is not a big thing to consider, satisfiing the customer in every aspects is value added. thanks.
By
SURESH SRINIVASAN, BD Manager, GRT Jewellery
| 05 23 2010 04:01:31 +0000
THANK YOU MEENA.CONSUMER MENTALITY,ATTITUDE,PREFERENCE KEEP ON CHANGING.IN THE EXAMPLE YOU HAVE GIVEN ,A LOWER PRICED PRODUCT WITH FEATURES IS THE USP AND IS THE VALUE ADDITION.WHEN WANTS BECOME NEEDS PURCHASE DECISION IS TAKEN BASED ON UTILITY,PRICING,QUALITY,AFFORDABILITY ETC.
By
s.baalu , Consultant, XYZ LTD
| 05 19 2010 14:21:32 +0000
According to 'Marketing Science'; customers do not buy product or services, they buy benefits. Thus, to make a product successful in a market, it should have a clear value attached to it. If the value attached to a product is equal to benefits expected by a customer, this will act as a trigger for the purchase. Value added services act like the delicious desert which comes along with that perfect dinner. In the current market, these fundamentals hold good but the value proposition of products has changed w.r.t to the change in the consumer behavior. The consumer has become knowledgeable and is careful assessing the list products being offered in the market. Therefore, the best suitable product to the consumer has the best chance to survive in the market. Lets take the example of Micromax; Micromax is offering all the high end features at a price which can cater a large segment of customers. If a customer expects high end features in his/her phone at a low price, then Micromax is one of the good options available to them. Thus, in my opinion Micromax has very clear value proposition attached to it. As for the 'value added', in this short span of time, they have established a vast service network.
By
Rochit Rajvanshi, MBA/PGDM student, Institute of Management Technology (IMT), Nagpur
| 05 19 2010 07:40:27 +0000
Before getting into discussion, we got to define value. As per Kotler " Value is et of benefits that product offers to customer". Perceived Value is value which customer perceives from product. SOme segement of customer see value in cost effectiveness whereas for some others value is increase in features. So essentially, it boils down to knowing the value customer cherishes.It leads to total customer satisfaction.Value will always remain important
By
Pankaj Aswal, MBA/PGDM student, Automation
| 05 18 2010 12:33:34 +0000
in economic theory the demand theory is the most important theory. it clearly depicts consumer behavior. And more over value addition has got nothing to do with the product and every thing is based on consumer reaction at the time of making the purchase. As u r aware, and it holds good even to-day that customers are rational thinkers. The so called value addition will have only little impact and is inversionly proportional when it comes to buying pattern.
By
sudhakar , Head Markering, codezene (P) ltd
| 05 15 2010 07:54:45 +0000
Remember customer never demand more only his demand get deviate by little by feature. still people look their pocket and then the utility of the product. and little deviation in positive direction of product prompt them for by the products.
By
HEMANT VERMA, Marketing and Branding, NAVNEET PUBLICATION INDIA LTD.
| 05 14 2010 15:47:22 +0000
I don't think so. Value addition is nothing but giving the consumer more than he expects ; this can be by way of service , quality , features , anything that gives him more value for money. This will last forever. Nothing is going to take the consumer away from quality. Even in a disposable product the consumer expects quality. When you are spending money , unless it is someone else's money , you will always want more for the same price. Anyone who can do that will get your attention , and money.
By
K. NARAYAN, None, None
| 05 14 2010 15:42:47 +0000
|
