Question

1. What is a market offering? Give a recent example of a market offering that has created value.

Answer 1

A Market offering is a combination of products, services, information, or experiences offered to a market to satisfy consumer needs or wants.

Market offerings are not just limited to physical products they also include services such as intangible activities or benefits offered for sale, but have no ownership. A strong offering differentiates the products from competitors and creates value by meeting customers’ wider needs better than other options already available.

An example of market offering can be of a company known as Rossware- It creates business software solutions for any size service companies that are engaged, typically, in the business of appliance repair, pool and spa service, electronics, plumbing, electrical, or garage door repair. They cater to any company whose primary mode of operation is performing service calls.

One of their products is a web-based service to let small service businesses such as plumbers, electricians, etc to handle the scheduling of their jobs online, and also let the customers schedule online. One can also see the prices they charge for hosting, which is much higher than you'd expect for normal web hosting, they thus offer solution that has a lot of value in that

It offers a way to local businesses to make their business more efficient. Through web hosting it becomes very easy to sell the services online.

Another example is of Mc Donald, they have very well planned and strategized their marketing by offering value meals to customers. Inspite of facing intense competition it is still surviving and blooming as a whole.