Creating an Effective Customer Value Proposition Process
Kundu, Vinod (2020)
2020
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Julkaisun pysyvä osoite on
https://urn.fi/URN:NBN:fi:amk-2020060316801
https://urn.fi/URN:NBN:fi:amk-2020060316801
Tiivistelmä
The objective of the present study was to establish a Customer Value Proposition building process for the company, Micromax Informatics Private Limited. Micromax is an Indian company that operates in electronic gadgets and mobile phones sales and service industry and market territories are India and some Asian countries.
Micromax faced with the challenges of low market share and decline stage of customer base. Accordingly, this study is intended in aiding the case company to meet the challenges through the development of a superior value proposition by addressing the most important needs of the specified customers.
This study followed the Action Research methodology as a research approach as it utilizes an Iterative approach in a systematic way to find the solutions and improvements for the problems. This study also utilizes the data from various sources such as top management of company and employees working in different department with questionnaire sent to them and some telephonic interview with that questionnaire and document analysis. Accordingly, data collection from different sources not only enabled to have sufficient stakeholder perspectives but also aided in the triangulation of the study.
The conceptual framework of this study is constructed based on the existing knowledge of the Building blocks of a customer value proposition. Accordingly, the conceptual framework describes the importance of the CVP type in shaping a business strategy. The conceptual framework then establishes the significance of core offering based on core competencies in building a value proposition that delivers superior value to the customers. Furthermore, conceptual framework also highlights the prominence of positioning of a differentiated value proposition for a targeted customer segment in order to gain a competitive edge for the company in the market.
The outcome of this study is a proposal of a well-defined and focused Customer Value Propositioning process, specifying value offerings of the case company for meeting the most important customer requirements. Customer Value Proposition (CVP) proposal also includes the core competences of the case company for improving the value offerings, competitive positioning against the market leader offerings and the recommendations for the future business development.
Micromax faced with the challenges of low market share and decline stage of customer base. Accordingly, this study is intended in aiding the case company to meet the challenges through the development of a superior value proposition by addressing the most important needs of the specified customers.
This study followed the Action Research methodology as a research approach as it utilizes an Iterative approach in a systematic way to find the solutions and improvements for the problems. This study also utilizes the data from various sources such as top management of company and employees working in different department with questionnaire sent to them and some telephonic interview with that questionnaire and document analysis. Accordingly, data collection from different sources not only enabled to have sufficient stakeholder perspectives but also aided in the triangulation of the study.
The conceptual framework of this study is constructed based on the existing knowledge of the Building blocks of a customer value proposition. Accordingly, the conceptual framework describes the importance of the CVP type in shaping a business strategy. The conceptual framework then establishes the significance of core offering based on core competencies in building a value proposition that delivers superior value to the customers. Furthermore, conceptual framework also highlights the prominence of positioning of a differentiated value proposition for a targeted customer segment in order to gain a competitive edge for the company in the market.
The outcome of this study is a proposal of a well-defined and focused Customer Value Propositioning process, specifying value offerings of the case company for meeting the most important customer requirements. Customer Value Proposition (CVP) proposal also includes the core competences of the case company for improving the value offerings, competitive positioning against the market leader offerings and the recommendations for the future business development.