Value marketing is a foundational principle in business marketing, where the brand’s value is determined in the audience’s mind based on the level of service provided, the benefits gained from dealing with the company, or the financial cost compared to the actual value acquired.
Value marketing is the key that makes a consumer pay $10 for a product (S) when there is a product (P) with a lower price and similar manufacturing and quality. It is about creating a perception of unique value in the consumer’s mind.
Marketing based on value is considered a way for companies to establish their position in the commercial market. It involves a set of strategies employed by brands to create a distinct value in the minds of the audience.
When you think of cars, names like Mercedes and Ford usually come to mind. When envisioning an ideal relaxation trip, your thoughts might go to either the Maldives or the Bahamas. And when craving a quick meal while on the go, your mind may automatically think of McDonald’s or KFC. All of this is achieved through value marketing, where the brand and the product become synonymous with each other.
