strategyA method or plan chosen to bring about a desired future, such as achievement of a goal or solution to a problem.The art and science of planning and marshalling resources for their most efficient and effective use. The term is derived from the Greek word for generalship or leading an army.Brand equity - Brand equityBI is the net result of various elements such as brand loyalty,brand name ,awarness,brand associations,quality associated with the brand and so on.The term BI is now used extensively along with the terms,brand image &brand personality.BI acts as a powerful strategic mgt tools .it plays an vital role in competitive marketing & also in sales pramotion.According to Phillip kotler & armstrong,BI means,''the value of a brand ,based on the extent to which it has high brand loyalty,name awarness,perceived quality ,strong brand associations,& other assats such as patents,trademarks,& channel relationships.''BI provides value to a firm in the form of price Premium or trade leverage or competitive advantage.Advan of brand equity to consumers-1.consumers purchase branded products with confidance and affinity.naturally they get pleasure by using Branded products.2.consumer feel confidence as a regards their purchase decisions as a branded products Develop loyalty in the minds of consumers.3.consu get new information about the products and brands.4.Consu enjoy pride while useing a product of specific brand due to its popularity &prestigued.

5.consumes are willing to accept a new product with the same brand due to their satisfactory association with the brand.

Mis - MisMI includes all the data,in terms of facts ,openions,views,guidelines & policies,which are necessary to make vital marketing decisions.the data is collected from customers ,competitors ,company sales-force & other staff,govmt sources,specialized agencies & sources.Acc to philip kotler '' a MIS consists of people ,equipment &procidures to gather,sort,analyse,evaluate & distribute needed timely and accurate information to marketing decision makers.''

Brand equity - Brand equityBI is the net result of various elements such as brand loyalty,brand name ,awarness,brand associations,quality associated with the brand and so on.The term BI is now used extensively along with the terms,brand image &brand personality.BI acts as a powerful strategic mgt tools .it plays an vital role in competitive marketing & also in sales pramotion.According to Phillip kotler & armstrong,BI means,''the value of a brand ,based on the extent to which it has high brand loyalty,name awarness,perceived quality ,strong brand associations,& other assats such as patents,trademarks,& channel relationships.''BI provides value to a firm in the form of price Premium or trade leverage or competitive advantage.Advan of brand equity to consumers-1.consumers purchase branded products with confidance and affinity.naturally they get pleasure by using Branded products.2.consumer feel confidence as a regards their purchase decisions as a branded products Develop loyalty in the minds of consumers.3.consu get new information about the products and brands.4.Consu enjoy pride while useing a product of specific brand due to its popularity &prestigued.5.consumes are willing to accept a new product with the same brand due to their satisfactory association with the brand.

Customer Value Definedin every buying decision, a consumer asks the same question: 'is what I am going to receive worth what I have to give up in order to get it?' The gain the consumer receives for the benefit is weighed against the cost the consumer must pay to acquire the benefit. The value the individual consumer places on a product or service becomes the customer value for that offering.

This customer value is weighed against the customer values assigned for similar products and services that would provide a similar benefit. Consumers will typically purchase the item with the highest customer value among all offerings in the marketplace. When you are deciding where to go for lunch, for example, do you consider Subway to have a higher customer value than Burger King? Every consumer has a unique set of needs and resources, so no two consumers will place the same customer value on the same product or service. The highest-quality product or service does not always provide the highest customer value, since the benefit of each item is measured against the cost. Some consumers are willing to pay a high price for a quality product or a high level of service, but others will make the decision that the same benefits are not worth the price. On your next vacation, would you rather stay at the Marriott or the Quality Inn? The Marriott will provide you with a nicer room, a fancier lobby, and room service, but you might rather spend the money you save by staying at the Quality Inn on souvenirs. How Is Customer Value Delivered to the Customer?There are three ways a company can establish customer value to its customer base: 1. Provide the consumer with the best cost. Companies can choose to focus their efforts on providing a reliable product at a reasonable price. The low price helps to increase the value of their offering to the consumers even if it is weighted against a low benefit. For example, you might place a high customer value in a meal at McDonald's restaurant because you know you will receive a consistent, satisfactory meal at a low price. 2. Provide the consumer with the best product. Companies that offer top-quality products increase the customer value of their offerings to their consumers by providing a high benefit, which exceeds the high cost. Lexus, for example, makes a luxury car that many consumers consider to be top quality. Lexus, along with other luxury car manufacturers, is able to charge a premium price for their cars, since they consistently produce cars of this high quality in the minds of their consumers. 3. Provide the consumer with the best service. Companies that provide a high level of service to their consumers increase their customer value of their services by providing a high benefit, which exceeds the cost for many consumers. Consumers who buy from these companies are willing to pay more to be treated with exceptional service. The retailer Nordstrom, for example, has legendary customer service that is unmatched in the retail industry. Create an account to read entire transcript... Course NavigatorSupplemental Business: Study Aid 3 chapters | 38 video lessons 1 - Introduction to Computers 2 - Business Management Basics 3 - Marketing Basics in Business What Is Business Environment? - Definition, Factors & Quiz 3:30 What Is the Economic Environment in Business? - Definition, Importance & Factors 3:39 Market Penetration: Examples, Definition, Advantages & Disadvantages 3:52 What is Customer Value? - Marketing, Definition & Quiz 5:05 Go to Marketing Basics in Business