Question: value proposition appears to be an essential element of marketing...
Value proposition appears to be an essential element of marketing strategy. The development of clearly-defined and focused strategic marketing value propositions is imperative. The unique value propositions play an important role in helping the marketing department re-establish itself as an organizational core strategy.
Edvardsson, Klaus and Adrian, P. (2014) highlighted the importance of marketing engagement in leading the development of the organizational value proposition. It allows organizations to assert/ reassert marketing as an involved developer of organizational core strategic planning. It is important for marketing leaders to assume responsibility for the activity of value proposition development in conjunction with the relevant management.
A carefully developed value proposition is imperative as it represents an offering of value aimed at engaging and building long-term customer relationships. The value proposition can be tailored, augmented and improved according to the specific requirements of specific customer segments. However, financial measurement. and feedback mechanisms that communicate the value offered to the customers appear to be the center of value proposition approach.
An effective marketing strategy does not merely ensure the value proposition is relevant to the customers but also effectively communicated to all key stakeholders. Communication appears to be an indispensable element of international cooperation as it requires organizations to wisely manage different cultures (Toprak and Genc-Kumtepe, 2014). Successful marketing leaders are required to overcome the communication barriers with expertise.
Thus, it is also important for marketing leaders to develop their capabilities to the tendency to look through the lens of cultural differences when it comes to the formation of marketing planning. Individual perceptions also need to be taken into account during the formation of a marketing plan. Marketing leaders are required to equally treat all partners and getting to know them by reading the cultural characteristics of different societies.
Reflecting on the importance of communication, may I ask for recommendations of effective collaboration channels?