The first aspect of marketing that is different from just selling is in the element of purpose or goal. While the idea of merely selling a product is motivated by attaining a lot of sales in a short period, marketing is focused on long-term sales that are sustainable within a certain market segment. Another difference is that marketing is mainly based on the brand of a product while selling is based on customer-utility or need for a product. Marketing is more intensive in gaining a long lasting relationship with customers than just selling. Additionally, marketing involves a lot of product promotion activities as compared to just selling.
Customer value is the multidimensional contentment that a customer gets after acquiring a product or accessing a service. While several aspects are definitive of customer value, all of them are based on the customer’s perception of a product or service and the way they view its worth. The first fundamental aspect of customer value is the balance between quality and price. Indeed, the greatest value that most customers attach to a certain product or service is the ability of the product/service to achieve the best quality at the minimum possible cost. Other elements such as stakeholder value, community engagement, and environmental conservation also contribute to customer value.
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Household detergents are cleaning chemicals used in most homes. To segment the market for these chemicals, the first parameter to use is demographics. This includes identifying sections of the population that utilize the product and making any necessary modifications required to suit the respective markets. Lifestyle is also another parameter that can be used. Particularly, high-end consumers need premium detergents while the middle and low-end consumers are not necessarily interested in premium products. Lastly, behavioral traits and geographics are other parameters that can be used to segment a market.
