Russian Practice of Marketing Management by Value Proposition
Abstract
As a method of marketing management, value proposition means that the business strategy relies on a promise of value. It is a value offer that represents the product or service as unique, thus increasing the customer loyalty. This approach is regarded as efficient both by marketeers and entrepreneurs because a well-designed value proposition is usually profitable for the company. The author developed an up-to-date definition for value proposition and analyzed specific cases of successful value propositions as a marketing strategy. Standard research methods made it possible to describe the stages of managing the company’s value proposition management, define the existing model of value proposition tools, and identify the goals of value proposition. The illustrative part of the research involved a comprehensive analysis of Russian value proposition practice, i.e., presentation methods, promotion tools, stages, and customer orientation. Value proposition creates a lasting connection between the brand and the consumer, ensuring loyalty and repeat sales as companies employ multiple marketing channels to ensure optimal conversion metrics and deliver the product’s value proposition to the customer.
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