MBA SUBJECTS - DETAILS OF MBA

MBA SUBJECTS |   Details of MBA , Friends, we hear many times that he is doing an MBA, She is going to an MBA. And many parents also advise their children to do an MBA. But we don’t have that much information about MBA. So today I am trying to write something about MBA SUBJECTS , I hope that you will definitely get this post helpful . source-bizjournals.com MBA FULL FROM = Master of Business Administration, this is a degree you can get knowledge about  MBA  subjects details . In this degree, you will be introduced to business management, Business Skill, Marketing skill, Business Strategy etc. Friends, you are seen today that there is a time of globalization. Corporate, Industrial, The economy is growing  all over  the world. In this way, MBA is an excellent package giving option. It is not only in India but in foreign countries it is scope too wide. So come know about the MBA.  ( MBA TOPIC) Elig...
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VALUE, SATISFACTION, (NEED, WANT, DEMAND)-MBA TOPIC


VALUE, SATISFACTION, (NEED, WANT, DEMAND)

VALUE
All ABOUT MBA TOPIC| VALUE is the ratio between the customer’s perceived benefits & resources. – SCHIFFMAN & KANUK
Therefore the value is a function of
FUNCTIONAL+ PSYCHOLOGICAL+ ECONOMIC BENEFITS
MONETARY + TIME + EFFORTS + PSYCHOLOGICAL RESOURCES
•        Value is always perceived by the customers. This is why its called - ‘Perceived Value’. It is always a   pre-purchase phenomenon. 
•        Value is always proposed by the seller. When a seller woos a customer to buy  he is doing Value proposition
•        So – Marketing today is the process of Creating & Delivering Value &Marketing Mix the sole vehicle for doing this.
•        By adjusting the Marketing Mix, VALUE can be enhanced!!!
VALUE, SATISFACTION, (NEED, WANT, DEMAND),MBA TOPIC 
KOTLER SAYS
•        Marketing revolves around customer/ customer buys the product that gives maximum value/ so value becomes the central concept of marketing.
•        HENCE KOTLER SAYS “Marketing can be seen as the identification, creation, communication, delivery & monitoring of customer value.”
•        Value is a Pre-purchase Phenomenon.


VALUE, SATISFACTION, (NEED, WANT, DEMAND) NEED = Basic human requirements (next slide). Felt deprivation of some Basic Human Requirement
 WANT = Need directed towards a specific Product
 DEMAND = Want Backed with purchasing power along with willingness to pay


Can a Marketer Create NEED???
No!!! A Marketer can only Discover or Uncover a Need…



CUSTOMER SATISFACTION
WHAT IS SATISFACTION???
•        This is a post consumption factor…
•        Satisfaction – is the individual’s perception of the performance of a product or service vis a vis his expectations.
•        Higher the value : higher the expectation
•        Level of satisfaction determines pattern of repurchase & classifies customers into various categories


KOTLER SAYS
•        “Satisfaction reflects a person’s comparative judgments resulting from a product’s perceived performance or outcome in relation to his or her expectations.”
•        If cold French fries are served at mc Donald's then a customer is dissatisfied.
•        DISSATISFIED TO SATISFIED TO CUSTOMER DELIGHT

VALUE VS SATISFACTION
•        Value is assessed before purchase whereas satisfaction is assessed post-purchase
•        Values are product related while satisfaction is customer related
•        Values are created around the “SATISFIERS” i.e. features that satisfy
•        Value is a means while satisfaction is an end
•        Values provide satisfaction
•        A satisfied customer stays with you (Retained) & builds a relationship with you.

CATEGORIES OF CUSTOMERS ON THE BASIS OF SATISFACTION LEVEL
•        APOSTLES
•        LOYALISTS -
•        DEFECTORS
•        TERRORISTS
•        HOSTAGES


We hope you like this article (VALUE, SATISFACTION, (NEED, WANT, DEMAND) & also help you to know about MBA TOPIC.

                                       


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