"Identifying, developing, and delivering a superior value proposition is the true touchstone of Marketing". Discuss.

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"Identifying, developing, and delivering a superior value proposition is the true touchstone of Marketing". Discuss.

In a Western economy of surplus rather than shortage of goods and services, it is vital that in any market, an organisation must offer a superior value proposition to its customers, if it wishes to gain a competitive advantage over its competitors. This essay will first discuss what is meant by the term 'value' in relation to customers. It will go on to demonstrate how, in a co-ordinated and integrated organisation, the Marketing function can identify, develop and deliver superior value for its customers, whilst maintaining profitability for shareholders.

Piercy, (2002) describes value for a customer, not only in terms of lower prices and higher quality, but more as a perception of one products overall benefits compared to the total cost of purchasing the product. These costs not only include price, but also the time, effort, and difficulties that may arise during the whole purchase decision and post purchase evaluation. Piercy states, that customers have become more 'sophisticated' as awareness of marketing activity has increased. The expectations of the customer have increased so much, that traditional marketing perspective where the customer is easily