Values

Marketing is about values.

Our life is guided by a set of  values which are an integral part of every culture. Along with beliefs and worldview assumptions, they generate behavior. According to Brian Hall "values are the ideals that give significance to our lives, that are reflected through the priorities that we choose, and that we act on consistently and repeatedly.”

  In marketing point of view 'if we believe our overall values drive our behaviour, then we should be concentrating on the important, underlying motives that drive consumers to make product or service choices rather than simply product attributes' (Ries & Trout 1982). Values are  form of the foundation of a business’ management style. They provide the justification of behaviour and, therefore, exert significant influence on marketing decisions.

The value of product is often expressed as the equation  :

Value = Benefits / Cost

Below are 9 different values a consumer may have, which was created
by Kahles (1983) :

1. Self Respect
2. Excitement
3. Being Well Respected
4. Self-fulfilment
5. Sense of accomplishment
6. Warm relationship with others
7. Security
8. Fun & enjoyment
9. Sense of belonging 

The chart below shows theoretical model of relations among ten motivational types of values.

A value is a belief, a mission, or a philosophy that is really meaningful to the company.

 Business values :

•  Continuous Improvement 
• Creativity
• Customer Delight
• Decisiveness
• Develop People
• Harmony
• Innovation
• Integrity
• Loyalty
• Openness
• Resourcefulness
• Respect for the Individual
• Service to Society
• Trust
• (A Will to ) Succeed

(source: RapidBi)