mbership to Zoos Victoria, the marketers would have done market researches and targeted the membership to families and children as they had packaged a lot of benefits for children or family. For instance, there are 15% discounts from the stores in the zoo. Membership to Zoos Victoria also creates and deliver the good at the right time and right place, the product can be brought from online or at the zoo and even if the consumers purchased the membership after the visit to the zoo, they could get refunds for the ticket money. As mentioned in the previous, the zoo’s main target is family and children, as the kids can satisfy themselves while they visit the animals, the exchange was proceeded as the consumers, parents/families does gain happiness within the tour.
Before we discuss about the customer value, I believe it is essential for us to understand 'value'. Value is the "worth, desirability or utility" (Grönroos, C., 1997). On the other hand, customer Value is "the difference between the benefits a customer sees from a market offering and the costs of obtaining those benefits" (Quester, P., 2007). By all means, in order to make customers receive the benefits, they would have to 'give up' certain things for the exchange of the product. In decree to get better acknowledged about the customer value, we can apply the diagram beneath.
Functional/instrumental value is concerned with the product's usability; the product's unique characteristics and its desired function. This value is basically generated by the purchase and use of the product. Under the functional value, there are three main areas - the correct attributes, appropriate performances and outcome. The correct attributes concerns with the characteristics a product has as consumers would prefer to buy a product that has the most suitable characteristics that they desired. Appropriate performances look at the quality of the product. So, the customer would be satisfied if the product is able to perform as well as it was appeared in its description. Lastly, the appropriate outcome considers whether the product reaches the outcomes that the consumer demanded. The experiential/hedonic value looks at the product's ability in creating experiences, feelings and emotions of its users. For this value, there are four parts to it - sensory, emotional, social/relational and epistemic. Some retailers focus on sensory value (such as aesthetes, ambulance, aromas, feel/tone) (Smith & Mark, C., 2007). The third beneficial value is the symbolic/expressive value. This value is concerned with the extent to which the product gave its user a certain degree of self-worth or self-value. It is also a value that connects with personal meanings of the product to particular consumers. The social meanings of how the others think about you and conditional meanings such as Valentine's rose or the dumplings that we have for Chinese New Year Festival. In order to have the benefits, customers also has cost/sacrifice values. This can be economic losses, risks associated with the product, personal investments and psychological losses. So, by knowing the customer's concerns or hold back in the process of purchasing a product, the marketers would look at the costs and tries to minimize the costs so products can be sold more efficiently. For the Victoria zoos, its product: the membership of