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{"id":3176,"date":"2023-02-19T16:11:49","date_gmt":"2023-02-19T16:11:49","guid":{"rendered":"https:\/\/content.one.lumenlearning.com\/introductiontobusiness\/chapter\/apply-it-14-1-the-role-of-customers\/"},"modified":"2025-06-25T12:55:14","modified_gmt":"2025-06-25T12:55:14","slug":"apply-it-14-1-the-role-of-customers","status":"publish","type":"chapter","link":"https:\/\/content.one.lumenlearning.com\/introductiontobusiness\/chapter\/apply-it-14-1-the-role-of-customers\/","title":{"raw":"Apply It 14.1: The Role of Customers","rendered":"Apply It 14.1: The Role of Customers"},"content":{"raw":"<section class=\"textbox learningGoals\">\r\n<ul>\r\n\t<li><span data-sheets-value=\"{&quot;1&quot;:2,&quot;2&quot;:&quot;Understand what marketing is&quot;}\" data-sheets-userformat=\"{&quot;2&quot;:14720,&quot;10&quot;:0,&quot;11&quot;:4,&quot;14&quot;:{&quot;1&quot;:2,&quot;2&quot;:0},&quot;15&quot;:&quot;Calibri&quot;,&quot;16&quot;:10}\">Understand what marketing is<\/span><\/li>\r\n\t<li><span data-sheets-value=\"{&quot;1&quot;:2,&quot;2&quot;:&quot;Understand what the marketing concept is&quot;}\" data-sheets-userformat=\"{&quot;2&quot;:15233,&quot;3&quot;:{&quot;1&quot;:0},&quot;10&quot;:0,&quot;11&quot;:4,&quot;12&quot;:0,&quot;14&quot;:{&quot;1&quot;:2,&quot;2&quot;:0},&quot;15&quot;:&quot;Calibri&quot;,&quot;16&quot;:10}\">Understand what the marketing concept is<\/span><\/li>\r\n\t<li><span data-sheets-value=\"{&quot;1&quot;:2,&quot;2&quot;:&quot;Understand what a value proposition is&quot;}\" data-sheets-userformat=\"{&quot;2&quot;:14720,&quot;10&quot;:0,&quot;11&quot;:4,&quot;14&quot;:{&quot;1&quot;:2,&quot;2&quot;:0},&quot;15&quot;:&quot;Calibri&quot;,&quot;16&quot;:10}\">Understand what a value proposition is<\/span><\/li>\r\n\t<li><span data-sheets-value=\"{&quot;1&quot;:2,&quot;2&quot;:&quot;Understand the importance of managing the customer relationship&quot;}\" data-sheets-userformat=\"{&quot;2&quot;:14720,&quot;10&quot;:0,&quot;11&quot;:4,&quot;14&quot;:{&quot;1&quot;:2,&quot;2&quot;:0},&quot;15&quot;:&quot;Calibri&quot;,&quot;16&quot;:10}\">Understand the importance of managing the customer relationship<\/span><\/li>\r\n\t<li>Understand how consumers make decisions<\/li>\r\n<\/ul>\r\n<\/section>\r\n<h2>Strategic Brand Evolution<\/h2>\r\n<p>This video examines Walmart's expansion of its private label strategy with a new premium brand, Bettergoods. You'll see this video case study again later in the module.<\/p>\r\n<section class=\"textbox watchIt\" aria-label=\"Watch It\"><script src=\"https:\/\/www.youtube.com\/iframe_api \" type=\"text\/javascript\"><\/script>\r\n<p class=\"cc-media-iframe-container\"><iframe id=\"tpm-plugin-chhhfeaf-metMoxX9eAw?si=vDu2qxFAA-YWbiM2\" class=\"cc-media-iframe\" src=\"https:\/\/www.youtube.com\/embed\/metMoxX9eAw?si=vDu2qxFAA-YWbiM2?enablejsapi=1 \" frameborder=\"0\" data-mce-fragment=\"1\"><\/iframe><\/p>\r\n<p class=\"cc-media-iframe-container\"><script src=\"\/\/plugin.3playmedia.com\/ajax.js?cc=1&amp;cc_minimizable=1&amp;cc_minimize_on_load=0&amp;cc_multi_text_track=0&amp;cc_overlay=1&amp;cc_searchable=0&amp;embed=ajax&amp;mf=13387226&amp;p3sdk_version=1.11.7&amp;p=20361&amp;player_type=youtube&amp;plugin_skin=dark&amp;target=3p-plugin-target-chhhfeaf-metMoxX9eAw?si=vDu2qxFAA-YWbiM2&amp;vembed=0&amp;video_id=metMoxX9eAw?si=vDu2qxFAA-YWbiM2&amp;video_target=tpm-plugin-chhhfeaf-metMoxX9eAw?si=vDu2qxFAA-YWbiM2\" type=\"text\/javascript\"><\/script><\/p>\r\n<p>You can view the\u00a0<a href=\"https:\/\/course-building.s3.us-west-2.amazonaws.com\/Intro+to+Business\/transcripts\/Why+Walmart+Is+Making+Its+Own+Premium+Products+Now+%7C+WSJ_transcript.txt\" target=\"_blank\" rel=\"noopener\">transcript for \u201cWhy Walmart Is Making Its Own Premium Products Now | WSJ\u201d here (opens in new window).<\/a><\/p>\r\n<\/section>\r\n<h3>How does Walmart's Bettergoods brand demonstrate a different value proposition compared to its Great Value brand? What specific customer needs is each brand designed to address?<\/h3>\r\n<p>[reveal-answer q=\"354012\"]Click to Show Sample Answer[\/reveal-answer]<br \/>\r\n[hidden-answer a=\"354012\"]Walmart's Bettergoods brand demonstrates a fundamentally different value proposition compared to Great Value. While Great Value positions itself as a \"national brand equivalent\" offering similar quality at lower prices, Bettergoods targets \"elevated lifestyles\" with premium, trendy products.<\/p>\r\n<p>Great Value addresses customer needs for affordability and basic functionality, serving price-conscious consumers looking for everyday essentials. In contrast, Bettergoods addresses customer needs for higher-quality, trendy options, like \"pistachio and almond gelato or gluten-free taco seasoning.\" This dual-brand strategy allows Walmart to appeal to both value-seeking customers and those willing to pay more for premium features while still maintaining their value reputation through both store brands.[\/hidden-answer]<\/p>","rendered":"<section class=\"textbox learningGoals\">\n<ul>\n<li><span data-sheets-value=\"{&quot;1&quot;:2,&quot;2&quot;:&quot;Understand what marketing is&quot;}\" data-sheets-userformat=\"{&quot;2&quot;:14720,&quot;10&quot;:0,&quot;11&quot;:4,&quot;14&quot;:{&quot;1&quot;:2,&quot;2&quot;:0},&quot;15&quot;:&quot;Calibri&quot;,&quot;16&quot;:10}\">Understand what marketing is<\/span><\/li>\n<li><span data-sheets-value=\"{&quot;1&quot;:2,&quot;2&quot;:&quot;Understand what the marketing concept is&quot;}\" data-sheets-userformat=\"{&quot;2&quot;:15233,&quot;3&quot;:{&quot;1&quot;:0},&quot;10&quot;:0,&quot;11&quot;:4,&quot;12&quot;:0,&quot;14&quot;:{&quot;1&quot;:2,&quot;2&quot;:0},&quot;15&quot;:&quot;Calibri&quot;,&quot;16&quot;:10}\">Understand what the marketing concept is<\/span><\/li>\n<li><span data-sheets-value=\"{&quot;1&quot;:2,&quot;2&quot;:&quot;Understand what a value proposition is&quot;}\" data-sheets-userformat=\"{&quot;2&quot;:14720,&quot;10&quot;:0,&quot;11&quot;:4,&quot;14&quot;:{&quot;1&quot;:2,&quot;2&quot;:0},&quot;15&quot;:&quot;Calibri&quot;,&quot;16&quot;:10}\">Understand what a value proposition is<\/span><\/li>\n<li><span data-sheets-value=\"{&quot;1&quot;:2,&quot;2&quot;:&quot;Understand the importance of managing the customer relationship&quot;}\" data-sheets-userformat=\"{&quot;2&quot;:14720,&quot;10&quot;:0,&quot;11&quot;:4,&quot;14&quot;:{&quot;1&quot;:2,&quot;2&quot;:0},&quot;15&quot;:&quot;Calibri&quot;,&quot;16&quot;:10}\">Understand the importance of managing the customer relationship<\/span><\/li>\n<li>Understand how consumers make decisions<\/li>\n<\/ul>\n<\/section>\n<h2>Strategic Brand Evolution<\/h2>\n<p>This video examines Walmart&#8217;s expansion of its private label strategy with a new premium brand, Bettergoods. You&#8217;ll see this video case study again later in the module.<\/p>\n<section class=\"textbox watchIt\" aria-label=\"Watch It\"><script src=\"https:\/\/www.youtube.com\/iframe_api\" type=\"text\/javascript\"><\/script><\/p>\n<p class=\"cc-media-iframe-container\"><iframe id=\"tpm-plugin-chhhfeaf-metMoxX9eAw?si=vDu2qxFAA-YWbiM2\" class=\"cc-media-iframe\" src=\"https:\/\/www.youtube.com\/embed\/metMoxX9eAw?si=vDu2qxFAA-YWbiM2?enablejsapi=1\" frameborder=\"0\" data-mce-fragment=\"1\"><\/iframe><\/p>\n<p class=\"cc-media-iframe-container\"><script src=\"\/\/plugin.3playmedia.com\/ajax.js?cc=1&amp;cc_minimizable=1&amp;cc_minimize_on_load=0&amp;cc_multi_text_track=0&amp;cc_overlay=1&amp;cc_searchable=0&amp;embed=ajax&amp;mf=13387226&amp;p3sdk_version=1.11.7&amp;p=20361&amp;player_type=youtube&amp;plugin_skin=dark&amp;target=3p-plugin-target-chhhfeaf-metMoxX9eAw?si=vDu2qxFAA-YWbiM2&amp;vembed=0&amp;video_id=metMoxX9eAw?si=vDu2qxFAA-YWbiM2&amp;video_target=tpm-plugin-chhhfeaf-metMoxX9eAw?si=vDu2qxFAA-YWbiM2\" type=\"text\/javascript\"><\/script><\/p>\n<p>You can view the\u00a0<a href=\"https:\/\/course-building.s3.us-west-2.amazonaws.com\/Intro+to+Business\/transcripts\/Why+Walmart+Is+Making+Its+Own+Premium+Products+Now+%7C+WSJ_transcript.txt\" target=\"_blank\" rel=\"noopener\">transcript for \u201cWhy Walmart Is Making Its Own Premium Products Now | WSJ\u201d here (opens in new window).<\/a><\/p>\n<\/section>\n<h3>How does Walmart&#8217;s Bettergoods brand demonstrate a different value proposition compared to its Great Value brand? What specific customer needs is each brand designed to address?<\/h3>\n<p><div class=\"qa-wrapper\" style=\"display: block\"><button class=\"show-answer show-answer-button collapsed\" data-target=\"q354012\">Click to Show Sample Answer<\/button><\/p>\n<div id=\"q354012\" class=\"hidden-answer\" style=\"display: none\">Walmart&#8217;s Bettergoods brand demonstrates a fundamentally different value proposition compared to Great Value. While Great Value positions itself as a &#8220;national brand equivalent&#8221; offering similar quality at lower prices, Bettergoods targets &#8220;elevated lifestyles&#8221; with premium, trendy products.<\/p>\n<p>Great Value addresses customer needs for affordability and basic functionality, serving price-conscious consumers looking for everyday essentials. In contrast, Bettergoods addresses customer needs for higher-quality, trendy options, like &#8220;pistachio and almond gelato or gluten-free taco seasoning.&#8221; This dual-brand strategy allows Walmart to appeal to both value-seeking customers and those willing to pay more for premium features while still maintaining their value reputation through both store brands.<\/p><\/div>\n<\/div>\n","protected":false},"author":21,"menu_order":8,"template":"","meta":{"_candela_citation":"[{\"type\":\"copyrighted_video\",\"description\":\"Why Walmart Is Making Its Own Premium Products Now\",\"author\":\"WSJ\",\"organization\":\"\",\"url\":\"https:\/\/youtu.be\/metMoxX9eAw\",\"project\":\"\",\"license\":\"arr\",\"license_terms\":\"Standard YouTube License\"}]","pb_show_title":"on","pb_short_title":"","pb_subtitle":"","pb_authors":[],"pb_section_license":""},"chapter-type":[],"contributor":[],"license":[],"part":3168,"module-header":"apply_it","content_attributions":[{"type":"copyrighted_video","description":"Why Walmart Is Making Its Own Premium Products Now","author":"WSJ","organization":"","url":"https:\/\/youtu.be\/metMoxX9eAw","project":"","license":"arr","license_terms":"Standard YouTube License"}],"internal_book_links":[],"video_content":null,"cc_video_embed_content":{"cc_scripts":"<script type='text\/javascript' src='https:\/\/www.youtube.com\/iframe_api'><\/script><script type='text\/javascript' src='\/\/plugin.3playmedia.com\/ajax.js?cc=1&cc_minimizable=1&cc_minimize_on_load=0&cc_multi_text_track=0&cc_overlay=1&cc_searchable=0&embed=ajax&mf=13387226&p3sdk_version=1.11.7&p=20361&player_type=youtube&plugin_skin=dark&target=&vembed=0&video_id=metMoxX9eAw&video_target=tpm-plugin-chhhfeaf-metMoxX9eAw?si=vDu2qxFAA-YWbiM2'><\/script>\n","media_targets":["tpm-plugin-chhhfeaf-metMoxX9eAw?si=vDu2qxFAA-YWbiM2"]},"try_it_collection":null,"_links":{"self":[{"href":"https:\/\/content.one.lumenlearning.com\/introductiontobusiness\/wp-json\/pressbooks\/v2\/chapters\/3176"}],"collection":[{"href":"https:\/\/content.one.lumenlearning.com\/introductiontobusiness\/wp-json\/pressbooks\/v2\/chapters"}],"about":[{"href":"https:\/\/content.one.lumenlearning.com\/introductiontobusiness\/wp-json\/wp\/v2\/types\/chapter"}],"author":[{"embeddable":true,"href":"https:\/\/content.one.lumenlearning.com\/introductiontobusiness\/wp-json\/wp\/v2\/users\/21"}],"version-history":[{"count":13,"href":"https:\/\/content.one.lumenlearning.com\/introductiontobusiness\/wp-json\/pressbooks\/v2\/chapters\/3176\/revisions"}],"predecessor-version":[{"id":9813,"href":"https:\/\/content.one.lumenlearning.com\/introductiontobusiness\/wp-json\/pressbooks\/v2\/chapters\/3176\/revisions\/9813"}],"part":[{"href":"https:\/\/content.one.lumenlearning.com\/introductiontobusiness\/wp-json\/pressbooks\/v2\/parts\/3168"}],"metadata":[{"href":"https:\/\/content.one.lumenlearning.com\/introductiontobusiness\/wp-json\/pressbooks\/v2\/chapters\/3176\/metadata\/"}],"wp:attachment":[{"href":"https:\/\/content.one.lumenlearning.com\/introductiontobusiness\/wp-json\/wp\/v2\/media?parent=3176"}],"wp:term":[{"taxonomy":"chapter-type","embeddable":true,"href":"https:\/\/content.one.lumenlearning.com\/introductiontobusiness\/wp-json\/pressbooks\/v2\/chapter-type?post=3176"},{"taxonomy":"contributor","embeddable":true,"href":"https:\/\/content.one.lumenlearning.com\/introductiontobusiness\/wp-json\/wp\/v2\/contributor?post=3176"},{"taxonomy":"license","embeddable":true,"href":"https:\/\/content.one.lumenlearning.com\/introductiontobusiness\/wp-json\/wp\/v2\/license?post=3176"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}