A Discussion on Value in Marketing

DOI

10.2991/978-94-6463-246-0_90How to use a DOI?

Keywords

Value; Marketing; customer lifetime value; Mariana Mazzucato

Abstract

This article explores the concept of value in marketing and the distinction between customer value and customer lifetime value. The report introduces the historical debates on value between philosophers and economists and raises the question of how value should be defined and delineated. Subsequently, it points out that the importance of marketing has been overlooked in past market environments, leading to an insufficient understanding of the value of marketing. The article also examines the difference between customer value and customer lifetime value, highlighting that it entails a comprehensive assessment of the profits and costs generated by customers throughout their relationship with a company. Lastly, the article mentions the perspectives of economists Mariana Mazzucato and Mark Carney, who hold differing views on market value. Still, both emphasize the impact of the market on society and the importance of active engagement in public affairs. In conclusion, the article summarizes that the current core of marketing is to create value for customers.

Copyright

© 2024 The Author(s)

Open Access

Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

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TY  - CONF
AU  - Zhuolun Liu
PY  - 2023
DA  - 2023/09/26
TI  - A Discussion on Value in Marketing
BT  - Proceedings of the 3rd International Conference on Economic Development and Business Culture (ICEDBC 2023)
PB  - Atlantis Press
SP  - 747
EP  - 752
SN  - 2352-5428
UR  - https://doi.org/10.2991/978-94-6463-246-0_90
DO  - 10.2991/978-94-6463-246-0_90
ID  - Liu2023
ER  -