Bradley Gale on

Customer Value Mapping

for Assessing Product Performance, Features, and Prices

The Value Map is the Swiss Army knife of marketing analytical tools. It helps you profitably configure, position and price your products against a field of competitors. The value-mapping system guides you in measuring the performance of your product relative to the competition. By managing the combination of performance and price of the products you bring to market, you assure that customers will see good value from you when they make their buying decision. For an example of a value map, see below.

Dr. Bradley Gale, author of Managing Customer Value, will present an overview of how value mapping is being used to help make decisions on product configuration and setting prices. When: Wednesday, November 18, 2009 Time: 11:00 AM- 12:00 AM Eastern time (USA)

Webinar Topics

  • Identifying the key advantages of your product relative to competitors
  • Estimating the worth of these advantages to the customer
  • Setting your price based on the value/worth of your product
  • Identifying high-priority performance improvements that will make your product more competitive
  • Positioning and selling your product based on its performance advantages
  • Testing the competitiveness of new-product concepts prior to launch

Customer Value Analysis and Value-Based Pricing have been used successfully in both business-to-business and consumer markets. Dr. Gale will illustrate the analytical steps in analyzing new products using Customer Value, Inc.’s Marketing War Room software.

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A value-map sketch of a successful product launch

 

In 2002, Toyota launched a redesigned Camry model, which soon overtook all competitors to become the best-selling car in America.  This value map summarizes Toyota's successful strategy relative to its major competitors at the time.  Despite being a hit with customers, the Camry’s price (plotted on the vertical axis in the diagram) was no lower than the average car in the category (i.e. very near the horizontal cross hair).  It was Camry's performance, measured here as a composite of a battery of road-test scores, that was far superior to the average (positioning Camry to the right of the vertical cross hair).  The Camry rivaled the Passat in overall performance, but at a much lower cost. This positioning made Camry a great deal for customers, and helped to propel Toyota toward global industry leadership.

 

Dr. Bradley T. Gale, president of Customer Value, Inc. and Chairman of Gale Consulting, Inc., has consulted on marketing and competitive strategy for such companies as BP, Honeywell, John Deere, Mars, Milliken, Johnson & Johnson, Perkins Engines, Syngenta, Trane, and Unilever. His book Managing Customer Value, published by The Free Press in 1994, was reviewed by Publishers Weekly as "arguably the most useful marketing study since the formative works of Peter Drucker, Philip Kotler, and Michael Porter...may shape business thinking for years to come."