Written Assignment Unit 1When we start to know the contrast between value and marketing approach, both have the same concept to create a better experience for their consumers. We need to understand that value is the concept that a consumer can notice based on their experiences. Say no to plagiarism. Get a tailor-made essay on "Why Violent Video Games Shouldn't Be Banned"? Get an original essay Value = Benefits Received – [Price + Problems] We can think of value as how much a person is willing to pay to accept a certain good or service, in exchange for this the gains have a cost to be accepted by any individual, since in my personal thought it is similar to studying opportunity cost, deciding which choice is better but noticing the entire process of choices and communication. This is where the study of the 4-Ps (Price, Product, Place and Promotion) helps us understand how our "good and service" was chosen among others, knowing the concept of value, and this does not differ from the approach based on the value in my personal opinion. Value is something that is always considered as if something is produced or created, but the 4-Ps (Price) generate a price (Product) and to create profits a product must be presented to the general public (Promote) and finally positions it as product, this is all a productivity cycle based on delivery or in other words it is focused on selling products (Places). The 4-P is very useful when there are direct sales to a specific consumer, if we think about the new approach of marketing creating proposals that have value, communicates them to the companies with which they have an alliance and provides value to their alliances and customers . Both have one thing in common, value is produced and communicated but they do not have exactly the same approach. What would you expect to be different between two companies applying one or the other approach? Those following the 4 Ps can focus on creating a good or service, studying its value, and placing it in a specific market, while the value approach can focus on increasing value by reducing or adjusting production accordingly. mind: this is just an example. Get a custom paper from our expert writers now. Get a custom essay One set for product fixation while the other adapts to the market. For example, we can see that the large-scale manufacturer studies the general market around their field. The shampoo market, for example, will follow this, what makes them different from each other as this good is considered a must in the first care of every single individual in a family? In order not to take two different companies, 4-P would rely on studying their value, study their customers and communicate what makes them different. While the value approach will study their product and communicate with those that might be useful. As a clear example, Head and Shoulders for “men” has a 4-P approach as they set up their communications to the general public to be specific “men” but have different products, while a marketing approach will increase value by creating a shampoo different "artisanal shampoo for men". Both communicate their product and value, but operate based on how much they want to deliver their value rather than increase it.