RMG 302 Chapter 2: Week 2

• School: Ryerson University
• Department: Retail Management
• Course: RMG 302
• Professor: Donna Smith

Document Summary

The consumer value framework and its components: cb is multifaceted, many factors can affect both the purchase decision and the way 1 feels after the purchase. Value and the cvf components: value is at the heart of experiencing and understanding cb. In a crm orientation: each customer represents a potential stream of resources rather than just a single sale, relationship quality reflects the connectedness between a consumer and a retailer, brand or service provider. Starbucks loyalty program or starbucks in general: but, they ensure that the value the company offers to consumers is equal to or greater than the price they are asking those customers to pay. In addition, customers recommend to their friends which results in less $ spent trying to obtain new customers. Consumer process: consumers must decide to do something before they can receive value, process involves deciding what is needed and what options for exchange are available.