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THE ELEMENTS OF VALUE, There are four stages to achieve a highly…
THE ELEMENTS OF VALUE
The elements of value can help managers creatively add value to their brands, products, and services, in order to gain an edge with consumers.
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GROWING REVENUE
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1st Hypothesis: Companies that performed well on multiple elements of value would have more loyal customers than the rest.
2nd Hypothesis: Companies that performed well on multiple elements of value would grow revenue at a faster rate than others.
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Products and services deliver fundamental elements of value that address 4 kinds of needs: Functional, Emotional, Life Changing and Social Impact.
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Maslow´s approach consider that the elements of value extends his insights by focusing on people as consumers, describing their behavior as it relates to products and services.
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