Marketing And Brand Management Unit 1: The Strateg

MARKETING AND BRAND MANAGEMENT Unit 1: The Strategic Role of Marketing and BrandsNameTutor’s NameDateUnit 1-Shared Activity: Customer ValueThe concept of value suggests ability to provide a reduction in customer’s perception of cost and increasing customer perceived value of a product or service. The concept of value is therefore a construct of perception of the quality and satisfaction received by the customer. By its nature, the brand value is a result of psychological processes as opposed to pure utility value and results from interplayof utility, price, risk and value perception.Businesses that recognise and use of the special factors that are related to the psychological dimension of matching products to users enjoy a special category that offers unusual opportunities for profit. Mobile device manufacturers have very successfully created perceived differences among products through branding. Samsung mobile has successfully created a loyal consumer base by creating perceived value that is important to the consumer.Samsung was ranked seventh in Interbrand’s “Best Global Brands 2016” and within the top ten for the past five years.The fundamental element of Samsung’s brand value is its brand identity. Through brand