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HOW NEW CUSTOMER VALUE CAN BE CREATED, AND EXISTING CUSTOMER
VALUE CAN BE ADVANCED IN AN ORGANIZATION
(A CASE OF OLA AUSTRALIA)
Students
Name
Course
Name
Date
of Submission
1.0
Introduction
Customer value is defined as the level of satisfaction experienced
by a customer as a result of undertaking an action relative to the cost of that
action[1]. In the car sharing
industry, the given action refers to the exercise of an individual renting a
car for a short period. Conversely, the cost is the amount of money that is
forfeited by a customer so that to access the car rental services. Customer
value elements include cost, time, place, form, experience, performance and
problem-solving[2].
·
Performance – measures the impact of
customer value
·
Time - establishes when customer value is
created,
·
Price - identifies the cost of
expenditures paid for services used by customers,
·
Place - customer value focuses on a
specific target,
·
Form – represents the best alternative
that will benefit the key targets,
·
Experience – focuses on the experience of
customers, and
·
Problem-solving.
The creation of customer
value at Ola Cabs is supported by the company’s customer service, marketing,
sales, operations, and so on because these factors affect the perception of customers.
The company creates customer value when the cost of ownership is less than the
experience of the customers.
2.0
Customer value propositions concerning Ola Cabs
Ola Cabs formation of customer value is essential to
success of the company’s effective marketing strategies and customer relations.
The different elements of customer value result in the realization of product
valuation, competitive insight, and customer intelligence[3]. Customer value
proposition helps Ola Cabs to deliver an acceptable statement of products'
value as elaborated below;
a)
Price
This
element relates to the operations of Ola Cabs as it involves the realization of
the total expenditures paid to the company for the services rendered. The
company also incurs expenses that are not paid to it as the service provider referred
to as the cost of operations. In customer value proposition, the basis for the
value is as a result of price.
b)
Place
Ola
Cabs targets a specific market. The company targets intended users of cab
services as individuals who will be experiencing value proposition. Predominant
users are also targeted, and finally, the company focuses on crucial target
users that share the same characteristics[4].
c)
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