iseeit: Value creation Through the Marketing Nix Value is when a customer receives more than they give up, such as when a customer pays for a product or service. The definition of value often shifts based upon what each customer is looking for in the product or service they are purchasing. Take for instance the Hernandez family and their search for the perfect cup of coffee. Mom, Dad, and Gabby each place value on different aspects of the coffee drinking experience. Gabby looks for a unique experience, often provided by independent coffee shops, and is willing to pay more for that experience. Mom, on the other hand, wants the consistency and convenience provided by chains while Dad is not interested in anything fancy but is simply looking for a cheap cup of coffee. Before organizations can effectively market their coffee to this family with such diverse needs, they need to understand where each consumer places value and meet their needs using the marketing mix. Customer value is the unique combination of benefits received by targeted buyers that includes quality, convenience, ontime delivery and both before-sale and after-sale service at a specific price. For organizations to provide value and effectively satisfy consumer needs, they must understand their target market and adjust the marketing mix accordingly. Click the button to watch the video. Then, answer the questions that follow. Joe to Go offers donuts with its simple cup of block coffee that customers serve themselves. In doing so, the company is attempting to create value for Dad and other customers through which element of the four Ps? Multiple Choice promosion product pace price program