MKTG 565 Value Addition and Value Proposition Discussion
Order ID |
53563633773 |
Type |
Essay |
Writer Level |
Masters |
Style |
APA |
Sources/References |
4 |
Perfect Number of Pages to Order |
5-10 Pages |
Description/Paper Instructions
MKTG 565 Value Addition and Value Proposition Discussion
One: The concept of “value-adding” and “value proposition” is necessary for a firm to be successful in their marketing strategy because it takes a “brand, customer service, packaging, or anything the marketer adds to differentiate it from what might be called the “commodity” version of the product. For example, bottled waters are chemically indistinguishable from tap water. When a company puts a brand on it, it can mean safety, purity, taste, or whatever the company has decided to emphasize. Aquafina by PepsiCo and Dasani by Coke are tap water that has been branded” (Dhar, & Russ, 2011). A company must take their product that is otherwise “ordinary” and make into something that is desirable by consumers.
I work for a law enforcement agency and while we are not in the business of selling products, we do in a sense market or use “value adding” for our citizens. Our non-profit organization wanted to raise funds or our K-9 unit and instead of making an ordinary calendar that anyone can buy in a local store or market, they decide to make a calendar featuring our K-9 unit and their handlers. It was a huge success and the foundation was able to raise the money they wanted too for the K-9 unit and provide items they needed. Sometimes when selling or promoting a product you just have to think outside of the box and find the best way to appeal to your costumers.
Ethical situations can occur in marketing practices if the seller is misleading the consumers to believe their product is something it is not. For example, as mentioned above if Dasani or Aquafina is just “tap” water and is advertised as “purified” water then the company and marketing executives are misleading the consumer, falsifying their product and committing ethical violations.
References:
Dhar, R., & Winer, R. (2011). Marketing Management. (4th Edition). Pearson Education. New Jersey.
Two: According to Winer and Dhar (2016) value-adding is a differentiation activity in which the marketer takes the commodity version of a product and adds to its value to some group or groups of the buying population. Value-adding can be accomplished through various avenues for example brand, customer service or packaging. The value proposition is a key element of the core strategy. It is essentially a short summary of the value of the product (or service) which includes specific targets, product category, and a clear statement on how the product (or service) is distinguished in the market. Taken together value-adding and the value proposition are essential elements to an efficient and effective marketing strategy. Hassan (2012) states that an effectively tried and true value proposition is the cornerstone for a successfully differentiated business and that a company’s ability to deliver superior value for its customers is one of the most effective competitive strategies.
In marketing added-value is achieved when the customer receives something that has value to them. Holding true to this notion when creating the value proposition ensures that the marketing practices that follow will align with the firm’s stance on ethics since there is a strong consumer appeal to organizations that act in the best interest of their stakeholders. The value-proposition is essentially a communication strategy to the public, which can thus be used to convey ethical standards. It can also be used to set expectations for the organization’s current and future behavior (Graham strategies., Kitchen & Roast, 2004). Taken together, the value-added activities and the value proposition can be used to send a strong message both internally and externally about the firm’s commitment to ethics in both communication and practice.
RUBRIC
QUALITY OF RESPONSE |
NO RESPONSE |
POOR / UNSATISFACTORY |
SATISFACTORY |
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EXCELLENT |
Content (worth a maximum of 50% of the total points) |
Zero points: Student failed to submit the final paper. |
20 points out of 50: The essay illustrates poor understanding of the relevant material by failing to address or incorrectly addressing the relevant content; failing to identify or inaccurately explaining/defining key concepts/ideas; ignoring or incorrectly explaining key points/claims and the reasoning behind them; and/or incorrectly or inappropriately using terminology; and elements of the response are lacking. |
30 points out of 50: The essay illustrates a rudimentary understanding of the relevant material by mentioning but not full explaining the relevant content; identifying some of the key concepts/ideas though failing to fully or accurately explain many of them; using terminology, though sometimes inaccurately or inappropriately; and/or incorporating some key claims/points but failing to explain the reasoning behind them or doing so inaccurately. Elements of the required response may also be lacking. |
40 points out of 50: The essay illustrates solid understanding of the relevant material by correctly addressing most of the relevant content; identifying and explaining most of the key concepts/ideas; using correct terminology; explaining the reasoning behind most of the key points/claims; and/or where necessary or useful, substantiating some points with accurate examples. The answer is complete. |
50 points: The essay illustrates exemplary understanding of the relevant material by thoroughly and correctly addressing the relevant content; identifying and explaining all of the key concepts/ideas; using correct terminology explaining the reasoning behind key points/claims and substantiating, as necessary/useful, points with several accurate and illuminating examples. No aspects of the required answer are missing. |
Use of Sources (worth a maximum of 20% of the total points). |
Zero points: Student failed to include citations and/or references. Or the student failed to submit a final paper. |
5 out 20 points: Sources are seldom cited to support statements and/or format of citations are not recognizable as APA 6th Edition format. There are major errors in the formation of the references and citations. And/or there is a major reliance on highly questionable. The Student fails to provide an adequate synthesis of research collected for the paper. |
10 out 20 points: References to scholarly sources are occasionally given; many statements seem unsubstantiated. Frequent errors in APA 6th Edition format, leaving the reader confused about the source of the information. There are significant errors of the formation in the references and citations. And/or there is a significant use of highly questionable sources. |
15 out 20 points: Credible Scholarly sources are used effectively support claims and are, for the most part, clear and fairly represented. APA 6th Edition is used with only a few minor errors. There are minor errors in reference and/or citations. And/or there is some use of questionable sources. |
20 points: Credible scholarly sources are used to give compelling evidence to support claims and are clearly and fairly represented. APA 6th Edition format is used accurately and consistently. The student uses above the maximum required references in the development of the assignment. |
Grammar (worth maximum of 20% of total points) |
Zero points: Student failed to submit the final paper. |
5 points out of 20: The paper does not communicate ideas/points clearly due to inappropriate use of terminology and vague language; thoughts and sentences are disjointed or incomprehensible; organization lacking; and/or numerous grammatical, spelling/punctuation errors |
10 points out 20: The paper is often unclear and difficult to follow due to some inappropriate terminology and/or vague language; ideas may be fragmented, wandering and/or repetitive; poor organization; and/or some grammatical, spelling, punctuation errors |
15 points out of 20: The paper is mostly clear as a result of appropriate use of terminology and minimal vagueness; no tangents and no repetition; fairly good organization; almost perfect grammar, spelling, punctuation, and word usage. |
20 points: The paper is clear, concise, and a pleasure to read as a result of appropriate and precise use of terminology; total coherence of thoughts and presentation and logical organization; and the essay is error free. |
Structure of the Paper (worth 10% of total points) |
Zero points: Student failed to submit the final paper. |
3 points out of 10: Student needs to develop better formatting skills. The paper omits significant structural elements required for and APA 6th edition paper. Formatting of the paper has major flaws. The paper does not conform to APA 6th edition requirements whatsoever. |
5 points out of 10: Appearance of final paper demonstrates the student’s limited ability to format the paper. There are significant errors in formatting and/or the total omission of major components of an APA 6th edition paper. They can include the omission of the cover page, abstract, and page numbers. Additionally the page has major formatting issues with spacing or paragraph formation. Font size might not conform to size requirements. The student also significantly writes too large or too short of and paper |
7 points out of 10: Research paper presents an above-average use of formatting skills. The paper has slight errors within the paper. This can include small errors or omissions with the cover page, abstract, page number, and headers. There could be also slight formatting issues with the document spacing or the font Additionally the paper might slightly exceed or undershoot the specific number of required written pages for the assignment. |
10 points: Student provides a high-caliber, formatted paper. This includes an APA 6th edition cover page, abstract, page number, headers and is double spaced in 12’ Times Roman Font. Additionally, the paper conforms to the specific number of required written pages and neither goes over or under the specified length of the paper. |
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