Journal reflective Essay Example | Topics and Well Written Essays - 1000 words

Journal reflective - Essay Example Conceptually, these two aspects have brought a revolutionary paradigm in marketing that mainly focuses on having and taking care of the customers rather than merely attracting them. Notably, though, is the importance of these two elements in business today with respect to the customers and the progress of the organization in context. Delineating from their generality, value concept, and relationship marketing have several other constituents tied to them. Besides, myriad theories combine to link, separate and contextualize the value concept and relationship marketing to the prevailing business environment. Within the value concept, for instance, is the customer-perceived value, mathematically defined as the perceived benefits divided by the perceived sacrifice.3 The sacrifices, in this case, are the costs the customer has to incur during purchase such as purchase price and installation costs among others. To sum up about the value concept, it is very critical for any company aiming to launch competitive values to the clients to carefully analyze and understand the needs of the clients.4 It is the riskiest part of the value concept since the lack of such understanding may dilute customer loyalty. It may be a total waste of resources, and cause a ripple effect of not meeting the objectives of the company. In genera l, the value concept is directly proportional to relationship marketing.5 Arguably, reading this article is not only important to anyone aiming to start a business, but also to the established companies. Clearly, the impact of such reflection on professional learning and professional marketing skills cannot be overemphasized. As already asserted above, the reflection has a direct relationship with both professional learning and the real business environment. For one, it is through the reflection that a learner