Value Essay Example | Topics and Well Written Essays - 500 words

Value - Essay Example Secondly, highlighting the excellence of the product or its use or attribute that could be of use to the customer can increase the value of the specific product/service in customers’ perception. Thirdly, by providing the best quality product at reasonable price and by providing greater variety or product differentiation can attract more customers. Innovative products are of great value to marketing activity as they provide more opportunities for advertisement and sales. In relation to this, branding and advertising, marketing can enhance customers’ perceptions related to a specific products of a company and eventually increase their sales. The marketing function can play a central role in identifying customers’ needs and changing preferences; the marketing function can communicate these aspects to the research and development department. The R&D can then design products as per customers’ preferences and also increase variety of products thereby widening th e product lines. . The role of marketing in creating shareholder value is a strategic function and depends upon the operational efficiency of the firm which uses shareholders’ funds.