This case about Economic Value to the Customer (EVC) enables students to deeply analyze the positive and negative differentiation value of a product or service, and how distinct demographic segments can have disparate EVC. Additionally, it makes students aware that consumers can feel differently about various types of (equivalent) payment, e.g., $1 spent on service fees, tips, or on monthly fees for a food delivery service. Finally, the case encourages students to think about how to communicate the various aspects of value that a product/service provides.
MinuteGrocer: Estimating Economic Value to the Customer
by: Aradhna Krishna
Publication Date: May 2, 2023
Length: 8 pages
Product ID#: 1-640-753
Core Disciplines: Marketing/Sales
Partner Collection:
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Description
Teaching Objectives
After reading and discussing the material, students should:
- Define Economic Value to the Customer (EVC).
- Describe Reference Value.
- Recognize positive and negative Differentiation Value.
- Identify how different demographic segments can have different EVC.
- Explain how consumers can feel differently about various types of (equivalent) payment.
- Understand why certain Differentiation Value may matter more to a consumer psychologically.
- Formulate a plan for communicating EVC to consumers.