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The concept of value and value-based strategies has become very critical in marketing. (1) What is...

The concept of value and value-based strategies has become very critical in marketing. (1) What is the definition of value? (2) Based upon the formula V=Q/P used to define value there can only be five basic strategic approaches used to increase value. What are the five ways to increase value in general terms and, (3) using the 2019 Honda Accord as the current product with an average suggested retail price of $23,000, give specific examples related specifically to the future 2020 Honda Accord of how Honda might increase value provided by implementing “three” of the five possible value strategy alternatives in 2020? (Week 1 Lecture notes under Value and Ch. 7 under Selecting an Overall Positioning Strategy)

(My text says the five ways to increase value are: More for more, More for the same, More for less, The same for less, and Less for much less). Not sure how to describe them or answer the additional questions either.

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Rahul Sunny answered 1 year ago
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