Apply at least one aspect of the VBM to the following discussion prompt: At some level, a marketer's job is to convince customers to buy more of their stuff. But is there a limit to how much marketers should push their products and how much customers should buy? Luke 12:15 contains a warning from Jesus about coveting goods and not being concerned with the accumulation of possessions. "And he said to them, 'Take heed, and beware of all covetousness; for a man's life does not consist in the abundance of his possessions.'"
What does that mean for marketers?
Do marketers have an obligation to make sure customers really "need" versus "want" a product?
What, if any, is the marketer's responsibility here? Or is it up to the individual customer with free will to decide what they purchase?
Full Answer Section
- Focus on Long-Term Value: VBM emphasizes building long-term customer relationships. This can be achieved by ensuring products deliver on their promises, fostering customer trust, and promoting responsible consumption. Marketers can educate customers on product benefits and responsible use, helping them make informed purchase decisions that align with their needs, not just fleeting wants.
Marketers' Obligations and Customer Choice:
- Ethical Marketing: Marketers have a responsibility to practice ethical marketing. This includes avoiding deceptive advertising, manipulative tactics, and preying on vulnerabilities. They should promote products honestly and accurately, allowing customers to make informed choices.
Balancing Responsibility and Choice:
- Free Will and Informed Decisions: While marketers can influence, they can't control customer choices. Ultimately, customers have free will and the responsibility to make informed purchase decisions. However, marketers can promote responsible consumption by:
- Offering transparent information about products and their environmental or social impact.
- Highlighting the value proposition of products and how they can improve customers' lives (beyond mere possession).
- Supporting initiatives that promote mindful consumption and financial literacy.
Conclusion:
Marketers who embrace VBM move beyond just selling products; they aim to create value for customers. This aligns with the spirit of Luke 12:15 by focusing on needs, promoting informed choices, and encouraging responsible consumption practices. While customers have free will, marketers have a responsibility to promote ethical practices and empower customers to make mindful purchase decisions.
Sample Answer
Marketers and the Value-Based Model (VBM)
The Value-Based Model (VBM) emphasizes creating value for the customer as the core principle of marketing. Let's explore the prompt through this lens:
Marketers and Responsible Consumption:
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Understanding Needs vs. Wants: Marketers can leverage VBM by going beyond simply creating desires and promoting products. They can use market research to understand customer needs and develop products or services that genuinely address those needs. This aligns with the message of Luke 12:15, as it focuses on fulfilling needs rather than stoking desires for excessive possessions.