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Talk:Value (marketing)/Archives/2015

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Mess

This article is such a mess. It is clearly composed of several bits from different authors added together. The problem is that at least 2, or maybe even 3, different definitions/meanings of "value" are being written about at the same time, whereas this article should only be about value as a marketing term. Matthijs J (talk) 12:23, 23 January 2011 (UTC)

I'm not a marketer, but I suspect it's worse than confusion about different meanings. The opening equation "value = benefit/cost" seems just silly to me, not any kind of value I've ever heard of. The main point should be that from a marketing perspective, value is subjective, so equations aren't particularly relevant anyway. My guess is that the idea of value as a ratio comes from confusion between "value" and "value add" and also between subtraction and division. But then I'm an engineer, and we don't tend to see things the same way as marketers. --Robertmacl (talk) 15:56, 18 May 2013 (UTC)

The opening equation "value = benefit/cost" can be a valid one, and many references found for it. It is not a true mathematical expression unless a number can be assigned to the "benefit" parameter, which is highly subjective and largely based on perception. Nevertheless the equation is a useful construct in business, marketing and design engineering (the latter being my forte). There may be other equations or definitions of "value". However, as is, the remainder of the article is at odds with the opening paragraph. For instance, one paragraph begins with "For an organization to deliver value, it has to improve its value : cost ratio" According to the first paragraph, this means the organization must improve its benefit/cost-squared ratio. Most of the article proceeds incorrectly in a similar way. For example, another paragraph reads: "For an individual to deliver value, one has to grow his or her knowledge and skill sets to showcase benefits delivered in a transaction (e.g., getting paid for a job)" This is not correct. An individual can deliver value with her existing knowledge and skill sets. My recommendations for this article are to scrap it entirely and find an expert who will likely: include in the beginning all definitions of the term "value" in the context of marketing - if there is in fact more than one, and; align the remainder of the article with those definitions.Grgress (talk) 22:28, 24 April 2015 (UTC)

Wikepedia

Tacoma, WA I wanted a list of the factors (that I was taught in marketing 101) that determines value to a purchaser. As I recall, they were the following: 1. Place 2. Time 3. Cost 4. Perceived value. But this list, I feel, is not complete and there may be better labels. And I could find nothing on Wikepedia dealing with it.

Does anyone have any suggestions?

FrankvM

Cook and Gill (1993) proposed a generic list of product attributes to help categorize the way consumers may place value on products. This list could be helpful in discerning how one might make changes to products to improve value:

Five Senses

  • Visual Excitement
  • Odor
  • Sound
  • Feel
  • Taste

Dimensions

  • Volume
  • Weight
  • Moments of Inertia
  • Length
  • Diameter
  • Width
  • Height
  • Capacity

Friendliness

  • Comfort
  • Ergonomics
  • Mental Effort Required

Time Between Events (Functional)

  • Between Spatial Locations (speed)
  • From Input to Output (throughput)
  • From Start-Up to Functioning (warmup)
  • From Shut-Down to Off (cooldown)
  • From Off to Storage (packup time)

Time Between Events (Malfunction)

  • Between Failures
  • From Failed to Fixed
  • Useful Life

Legal & Ethical Adherence

  • State and Federal Laws
  • Foreign Laws
  • Moral Norms

Safety

  • Risk of Injury
  • Risk of Loss of Life
  • Hazardous Conditions Warning

Environmental

  • Ability to Recycle
  • Earth Impact
  • Water Impact
  • Noise Impact
  • Electro-Magnetic Impact
  • Impact on Humans
  • Impact on Nature

Robustness

  • Humidity
  • Heat
  • Vibration
  • Dust
  • Cold
  • Dampness
  • Operator Differences
  • Shelf Life

Source: H.E. Cook and M.R. Gill (1993). On System Design. Research in Engineering Design, 4, pp. 215-26.

Luke Wissmann 15:57, 12 June 2010 (UTC) —Preceding unsigned comment added by Lukewissmann (talk • contribs)

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