hello sir i am doing a project of honda marketing strategies i would like to request you to help me about the questionaire

Thank you

Hero Honda MARKETING AND ITS CONCEPT

MARKETING AND ITS CONCEPTS

Marketing is more than any other business function that deals withcustomers. Creating customer value and satisfaction are at the very heart of modern marketing thinking and practice. The Marketing discipline isundergoing fresh reappraisal in the light of the vast global, technological,economic, and social challenges facing today’s companies. Mass markets arefragmenting into micro markets, multi-distribution channels are replacingsingle channels; customers are buying directly through catalogues,telemarketing, and home video shopping; price discounting and sales promotion are rampant and are eroding brand loyalty; conventional advertisingmedia are delivering less and costing more. The marketing discipline isredeveloping its assumptions, concepts, skills, tools and systems for makingsound business decisions. Marketing is the delivery of customer satisfaction of a profit. The goal of marketing is to attract new customers by promisingsuperior value, and to keep current customers by delivering satisfaction.Today, marketing must be understood not in the old sense of making a sale“telling and selling” but in the new sense of satisfying customer needs.

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CUSTOMER SATISFACTION

Every company’s first task is “to create customers” towards this end itstrives. But on the other hand, customers face a vast array of products and brand choices, prices and suppliers. It therefore becomes a major task for customers to opt for the right seller.It is believed that customers estimate which offer will deliver the mostvalue. Customers are value maximizes, within bounds of search costs andlimited knowledge, mobility & income. They form an expectation of value andact on it. Whichever or not the offer lives up to the value expectation affects both satisfaction & repurchase probability.

Customer perceived value:

Our premise is that customers will buy from the firm that they see asoffering the highest perceived value (CPV) is the difference between the prospective customer’s evaluation of all the benefits and all the costs of anoffering and the perceived alternatives. Total customer value is the perceivedmonetary value of the bundle of economic, functional, and psychological benefits customers expect from a given market offering. Total customer cost isthe bundle of costs customers expect to incur in evaluating, obtaining, using,and disposing of the given market offering.
Delivering customer value and satisfaction:
In a hyper competitive economy with increasingly rational buyers, acompany can only win by creating and delivering superior value. Thisinvolves the following five capabilities: understanding customer value;delivering customer value; capturing customer value; and sustaining customer value. To succeed, a company needs to use the concepts of a value chain and avalue – delivery network.



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Michael Porter of Harvard proposed the value chain as a tool for identifying ways to create more customer value. Every firm is a synthesis of activities that are performed to design, produce, and market, deliver andsupport its product. The value chain identifies nine strategically relevantactivities that create value and cost in a specific business. These nine value-creating activities consist of five primary activities and four support activities.The firm’s task is to examine its costs and performance in each value-creating activity and to look for ways to improve it. The firm should estimateits competitor’s cost and performances as benchmarks against which tocompare its own costs and performances. It should go further and study the“best of class” practices of the world’s best companies.