Let's say your marketing goal is to deliver outstanding customer value. Which would you choose 1. Best Price 2. Best Product or 3. Best Service? Why?

Thanks for the invitation My Dear Colleen; undoubtedly a very SMART QUESTION has been put forth by you.

I fully endorse YOUR answer.

YES! The Marketers should find out what is Different and Unique about their product and choose carefully which category it should belong to; be it Price, Quality, or Service. They should choose one and make it count!

The reason that I mentioned the three categories of Price, Quality, and Service is because you have to make a choice between the three. 

Creating customer value through the appropriate marketing strategy is vital to the life of the product that your company/organization is offering.  You cannot be all things to all people (potential customers) and it is impossible to simultaneously provide the lowest-priced and highest-quality products as well as pay the highest prices to your suppliers, the highest wages to your employees and the maximum dividends to your shareholders.

Therefore, choose to either offer the Best Price, Best Product or Best Service according to the strongest suite of your product and then from there create your product’s marketing strategy.

An example of marketing the Best Price would be Target, my favorite American store that has just about anything from cosmetics, clothes, shoes, stationary, cleaning supplies and appliances, as well as food items.  It’s the go-to store and its brand-promise is based on the best price in town “Expect More, Pay Less”.

An example of marketing the Best Product is Starbucks with its motto “to inspire and nurture the human spirit—one person, one cup and one neighborhood at a time” by stressing quality coffee and ethics in the process.

An example of marketing the Best Service would be the US Bank which promotes the saying “All of US serving you” which refers to a best-in-its-class customer service.

Find out what is different and unique about your product and choose carefully which category it should belong to.  Does it compete on price, quality, or service?  Choose one and make it count!

Companies which focus on deliering exceptional products '' CONSISTENTLY '' along with Unsurpassed Customer Service are better off financially since they realize the value of product / service provided.

All 3, best price to get the customer, n best price means optimal. Best product so that he relies on dealer n best service for customer retention n get more customers .

1-Best product,2- Best price and 3-Best service.

The customer always looks for the best relationship quality / price with better service.

Thank you Colleen for a very interesting question.

Primiraly , the role of marketing is to carefully examine customers’ needs and wants, then design a product or service that satisfies those needs, offer it at a fair price, make it available through various channels of distribution and create promotions or communications to establish interest. Right?

Definately, this process is referred to as the “4 P’s”:

Product: Anything relating to the product (color, size, shape, etc.), as well as what the customer perceives as the product

Price: Identifying the cost to the user and determining a pricing strategy

Promotion: Using an array of communications tools (advertising, sales promotions, public relations, etc.) to reach customers and prospects

Place: The channel of physical distribution (the product’s actual movement through a means of distribution) and sales (how the product is sold, whether through wholesalers, retailers, direct mail, etc.)

Therfore, these four elements represent the marketing mix, so being successful means learning to manipulate the marketing mix in a proactive manner, rather than merely reacting to what your competitors do. so as a marketer to ensure outstanding customers value i will make a mix of these three options price, product, service and promotion .

Regards 

Thanks

I would choose Best product and best service , to get the customers

I agree with mr.chatterjee. All the three are important, work hand in hand & must be integrated to have the best result 

I agree with answer of  Ghada Eweda 

I am in total agreement with Colleen's response to her own question.

Apart, aftersales can always add value to any customer to say "WOW" through personalised customer service that is very exceptional and outstanding opportunity available only to Aftersales compared to Marketing, and Sales channels.

If the goal is to deliver an outstanding customer value, those 3 options should have to work together. But what comes first is to have the BEST PRODUCT, the value and quality is more important for the customers for them to come back. Next would be the BEST SERVICE, if the company has the good service it would be easy for them to market the product and this would creates trust with the customers for them to buy the product. Lastly the BEST PRICE. Basically, most of the customers doesn't look only for the best price since service and product is more important.