Value Based Marketing - Period 5

How can marketing be valuable? This is the main question guiding our perspective on value-based marketing. In this respect, we go beyond a narrow definition of the term value-based marketing, which often focuses on questions surrounding the marketing-finance interface ("How does marketing create shareholder value?", "How can marketing activities? financial value be made explicit?"). By contrast, we take a holistic view on the term "value-based", linking it to customers (consumers, companies), shareholders, partners, society - in short, numerous stakeholders that might be affected by marketing's value creation and appropriation process. This so-called stakeholder orientation on marketing is relatively new and trying to understand marketing?s impact and responsibility beyond its traditional scope. Unfortunately, marketing is all too often misunderstood and used to achieve results in the short term or to pursue self-interests. In this course, we will see that this one-sided view on marketing is very narrow-minded and often counterproductive. Marketing can be especially valuable for all parties involved if they understand how long-term value can be created (value creation) and appropriated (value appropriation) from the firm. To this end, we study relevant theories and concepts as well as the implementation of value-based marketing in practice.

To this end, you will study relevant theories and concepts and get acquainted with the implementation of Value-Based Marketing in practice. You will learn the practice of VBM by (a) applying the theory in the lectures, b) solving cases prepared for class teaching, and (c) applying the theory yourself in the tutorials in the form of group assignments.

Vrije Universiteit Amsterdam (VU Amsterdam) awards credits based on the ECTS system. Contact hours listed under a course description may vary due to the combination of lecture-based and independent work required for each course therefore, CEA's recommended credits are based on the ECTS credits assigned by VU Amsterdam. 1 ECTS equals 28 contact hours assigned by VU Amsterdam.