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This module, like all modules at Anglia Ruskin, is taught on the basis of achieving intended learning outcomes. On successful completion of the module, the student will be expected to be able to demonstrate the following:

LO 1. Identify the value proposition of an organisation and demonstrate how it provides a competitive advantage for the organisation;

LO 2. Critically evaluate the value propositions of a range of companies competing in a market sector;

LO 3. From the analysis of the value propositions in 1 and 2, synthesise a value proposition for a company identifying how it will gain a competitive advantage;

LO 4. Manage information from a range of sources in the formulation of a viable value proposition.

1.Using suitable models identify the customer perceived value for the customers for a company of your choice 20 4

  1. Critically evaluate the existing value proposition for the one you have chosen. Compare and contrast the value proposition with that of the leading competitor in its sector.
  2. Benchmark the two value propositions, comparing and contrasting as appropriate, and reaching a justified conclusion[s]
  3. In light of your analysis of your existing value proposition and what you have learnt in this module produce a new value proposition that will match the value criteria of the customers.
  4. Produce a plan to implement the value proposition externally and internally

You are entitled to feedback on your performance for all your assessed work. For all assessment tasks which are not examinations, this is accomplished by a member of academic staff providing your mark and associated comments which will relate to the achievement of the module’s intended learning outcomes and the assessment criteria you were given for the task when it was first issued.

The marker of your assignment will include feedback on written assignments that includes answers to these three key questions:

  1. What is your overall feedback?
  2. How does your assignment compare to the marking criteria?
  3. How can you improve in the future?

Using suitable models identify the customer perceived value for the customers for a company of your choice 20 4

Critically evaluate the existing value proposition for the one you have chosen. Compare and contrast the value proposition with that of the leading competitor in its sector.
Benchmark the two value propositions, comparing and contrasting as appropriate, and reaching a justified conclusion[s] 20 1-2
In light of your analysis of your existing value proposition and what 20 3 Module Guide you have learnt in this module produce a new value proposition that will match the value criteria of the customers.
Produce a plan to implement the value proposition externally and internally

Marketing can be considered as the exchange of various products and services between the buyers and sellers in the market. Basically, marketing has the direct impact on the various organizations, suppliers, its customers and many other people who are stay connected with that organization. The main objective of the marketing is to maintain the customer value for the specific product and brand. Basically, the marketing process involves in creating, delivering, communicating and exchanging the product and services. The main idea behind the marketing is based on creating the value for the customers by the services and products offered by the company. In return, customers are willing to pay the money for exchange of goods and products. The values for the customers can be created by various methods. This report analyzes the customer value proposition in the concept of marketing. For the discussion, the famous bank, CIMB bank in the Malaysian banking industry has taken. To compare with other competitor, Malayan Banking Berhad (Maybank) has taken. The existing value proposition of CIMB has identified in this report by comparing with the leading competitor bank in the banking sector.

Customer perceived value for banking industry 

The customer perceived value can be defined as the difference between assessment by the customers of all the offered benefits and prices and cost offered by the customers to get the products and services from the company. The consumers perceive the values in terms of set of monetary values or psychological, functional and economic advantages which the customers expect from the offerings of the banks. On the other hand, total cost can be perceived as the set of cost which are expected by the consumers in utilizing, disposing, analyzing and disposing of the products offered by the bank (Scherer, Wünderlich, & von Wangenheim, 2015). Target markets of the bank are those people who need banking services on daily basis. The banks segments their customers based on various kinds of people. Banks basically divides the target market on the basis of five broad market segments i.e. non-customers, low-value customers, medium-value customers, high-value customers and ex-customers.

Figure 1: Customer Perceived value

(Source: Bhasin, 2016)

The customer perceived value is the similar to the perceived benefits including some sacrifices to achieve some products offered by the bank. There are some models given by some researchers. One of the models is given by Sanchez (2006) and according to him; there are benefit component and sacrifices components in the customer perceived values provided by the bank. Sacrifices in the values provided by the bank includes price sacrifices, time sacrifices, risk, effort sacrifices and inconvenience etc (Roig, Garcia, Tena, &Monzonis, 2006).Along with this, benefits components include the set of economic benefits, social benefits, emotional benefits and relationship benefits.

Figure 2: Sanchez model

(Source: Sanchez, 2006)

Further, another model is given by Woodruff (1997) and according to him, customer perceived value is considered as the transaction between perceived monetary sacrifices and perceived quality. So, both the authors Woodruff and Sanchez have provided the customer perceived model to evaluate the level of values of the customers including attributes, consumption goals, and the consequences (Urška 2013).

Sanchez model

According to this model given by Sanchez, the perceived value of the customers include two types of components in the customer value proposition i.e. benefit components and sacrifice component.

He argued that the benefit components are the combination of many advantages such as customer care support and many different features offered by the bank. On the other hand, sacrifice component by the customers can be considered as the cost paid by them for buying a particular product or services. So, it is crucial to understand the needs of the consumers to reduce the sacrifices of the customers and to maximize their advantages. The perceived value for the CIMB bank in Malaysia based on the Sanchez model is discussed in the table (Narver, Slater & MacLachlan, 2004).

Benefit components of visiting to the banks

Sacrifices components made by customers

Quality Benefits


· Big brand names on which consumes can trust in terms of quality and services,

· Brands having international standardgratitude


· Unable to select the desired services due to some criteria

· Risk of losing money and precious things




Economic Benefits

Price sacrifices

· Attractive and affordable banking services,

· Scheme related to loyalty rewards,

· Many attractive products such as cards and loans,

· Discounted services occasionally

· Travelling cost to visit the banks and its branch,

· Cost for availing services of bank

Social Benefits

Efforts Sacrifices

· Social value connected with the brand names of bank as it is the famous bank in ASEAN region,


· Time taking to visit the branch,

· Time consuming in choosing the services

Relationship benefits


· Wide range of banking products and services which request to consumers with various selections,

· Large number of branches across the world,

· Outstanding customer services,

· Always available for the customers

· Risk in selecting the wrong scheme,

· Lack of surety of safety

· Risk of providing the money

Woodruff Model

Further, customer perceived value can be analyzed by the Woodruff model (1997) given by Woodruff which is topology framework.


Desired Customers’ value


Customers’ satisfaction with received value

Customers’ goals and purpose:

· Want all the services at one place,

· Quality banking services with theattractive offers.

Goal-based satisfaction:


· Banks provides all monetary related services under one branch,

· Keep the various attracting offers such as different types of cards and accounts with the quality services.

Desired Consequences in used situation:

· Travelling cost to visit the banks, its branches and ATM

· Waiting in long lines to deposit the money and other services



Consequences based satisfaction:


· Home delivery services related to accounts and debit or credit card,

· Launches mobile applications and websites to avail the services.

Desired service attributes and attributes performance:


· Quality and safe banking services,

· No anyfraud services,

· Full safety and protection to the customers’ money and precious things

Attribute based satisfaction:


· Provides quality banking services to the customers,

· Scheme related to loyalty rewards (Moosa& Hassan, 2015)

In case of desired value of the customers for banks, the CPV can be determined by the needs and requirements of the customers. It can be seen that, in the banking industry customers wants all the monetary services under one area. With this, they have to visit to the branches of the bank so they want alternative options for this. In comparison, the satisfaction of the customers with the received value, customers are gaining benefits of increased and strong competition in the banking industry in terms of attractive services. The banks are providing various attractive offers to the customers with the safety of their money (Sulaiman&Sukati, 2016). Along with this, they are providing the banking services which are very beneficial for the customers such as various loans at attractive interest rates, debit and credit cards with minimum balance and various types of accounts for different customers (Tremaine, 2015).

Evaluate CIMB’s existing value proposition in comparison to its competitor Malayan Banking Berhad (Maybank)

The result from the Sanchez model will be used to analyze the value proposition of the CIMB bank. In this section, the value proposition for the CIMB bank has analyzed in comparison of the leading bank Malayan Banking Berhad (Maybank) of Malaysia. This is the closest competitor of the CIMB. The evaluation of CIMB and Malayan Banking Berhad is as follows:


Customer Value Strategy and Positioning

Market mission and values

Mission: To provide unique banking services as the high performing and integrated company for the customers.

Vision: To be the leading ASEAN company in terms banking services.

Customer business strategy: Customer centric, strength in diversity, high performance, and integrity.

Competitive positioning

· Second largest financial service provider in Malaysia,

· Leading universal banking group in the Southeast Asia,

· Widest retail brand network in the ASEAN region,

· Having around 40,000 employees and large number of customer base.


Market assets

· Wide range of financial products which meet the needs of the customers,

· utilizes the staff’s capabilities, promotes personal leadership, and

· Creates value for the customers by innovative products.

Competitive differentiation

· Well situated and fastest growing ASEAN bank,

· competitive advantage by market capitalization,

· excellent management team,

· Skype banking,

· Well structured and design website and diversified business mix.  


Market mission and values:

CIMB is the leading banking group in the ASEAN region. The value proposition of the CIMB is based on the various services offered by the bank to the customers. They always seek the benefits and advantages from the banking with the savings of their money. In the bank, different coupons are the important part of the promotions. Further, bank has supporting staff that are directly connected to the customers in providing the perceived values to them. The mission of the CIMB is to be the leading bank in the ASEAN region in terms of banking services. By its innovative products and services, bank is able to achieve its mission, vision and business objectives (Nikhashem,Tarofder&Haque, 2015).

Competitive Positioning:

In terms of competitive advantage, CIMB bank is the most famous and leading bank in the ASEAN region. It is the second largest bank and one of the most leading banking groups in the Southeast Asia. The bank has widest retail brand network in the ASEAN region. This is the largest asset management company in that region. Bank has adopted stock selection process with the disciplined investment philosophy. The bank has larger customer base including 7 million customers in the 14 countries. This is the growing brand with the strong fundamentals. This is the only bank in Asia having excellent brand strength rating. In terms of customers’ value, bank improves the customers experience and ensures the customers complaints quickly and efficiently. The customers can provide the feedback to the management of the bank on its complaint page if the bank is not meeting the requirements of the customers. Bank has the good position in the banking industry due to the innovative products and the services.

Competitive differentiation:

The main objective to provide customer value is to get competitive differentiation in the operating market. CIMB bank has proper and active marketing team for the marketing and promotional activities because the bank is the brand name among the customers. This is the well situated and fastest growing bank in the Malaysia. Bank has competitive advantage by the market capitalization. The bank has excellent management team that is responsible for the marketing activities of the bank. The bank has well structured website for the suitability of the customers (Blocker, Flint, Myers, & Slater, 2011). There are various banking products and services provided by CIMB. The customers perceive the banking services of CIMB as it is famous for widespread distribution and mass promotional activities. Along with this, the environment of the CIMB’s branch is very good as the employees of the bank are always ready to help the customers and they always provide good opinion to the customers in terms of banking services. It provides unique services such as free ATM withdrawals from anywhere in ASEAN region and cross border privileges, investments, loans, accounts and debit and credit cards. Apart from this, CIMB provides other servicers i.e. mobile banking, self service banking, online banking, phone banking and currency exchange services etc. (Kelly, 2014).

Marketing assets:

The success of the marketing of CIMB depends upon the well-structured business model of the bank. The marketing of the bank focuses on corporate and institutional banking, consumer banking, market and group asset management, and insurance. The marketing of the bank includes several divisions i.e. customers sales and distribution control, retail financial service, commercial banking. Further, corporate and institutional banking includes corporate client solution, investment banking and treasury & investment. CIMB is the second largest consumer bank in Malaysia which provides effective retail banking services to the 6 million customers across the world.

Malayan Banking Berhad

Market mission and values

Mission:To provide convenient access of financing, having fair pricing and terms, being advisor to the customers based on their needs.

Vision:To be the leading financial service provider to the people in Malaysia with the innovative and passionately committed people who create value and serving community.

Customer business strategy:

Growth, team work, integrity, excellence & efficiency, and relationship building with the customers.

Competitive positioning

· Largest banking group in Malaysia having total assets of RM 309 billion,

· market leader in terms of market share,

· market leadership in the banking industry,

· Focused on the global level to become leading financial service provider.


Market assets

· Establishing relationship with the society,

· complaints chandelling method,

· web-based queue management system, and

· creating continuous customer delight

Competitive differentiation

· Internal and external customer services,

· building the culture of innovation, and

· building domestic leadership with regional expansion

Market mission and values:

Malayan Banking Berhad is the leading bank in the Malaysian banking industry. The strategic objectives of the bank are to be the leading retail financial service provider in the Malaysia. The business strategy of Maybank is to build up the strong relationship of the bank with the customers in the banking industry.

Competitive positioning:

The Maybank has positioned itself as the largest banking group in Malaysia. Further, Maybank is the market leader in the banking industry having the focus of expanding the business on the global level. The bank has the customers’ value proposition. The bank is committed to the values of one stop shop and tries to provide world class services to its customers. The bank is improving domestic and regional market position for non-retail deposits.

Market assets:

The market strength of Maybank is its relationship with the customers. The bank provides effective services to retain the existing customers. The services include complaints handling of the customers and creating continuous customers delight with the innovative products in the banking industry. The bank has strong brand value, large customer base, high market share and sustainable relationship with the stakeholders that are the key success factor of the bank in the market (Peppard, 2000).

Competitive differentiation:

Maybank is committed to change in the financial market. The managers of the bank are engaged in designing and enhancing the programs and products to retain the customers. The bank is focused to keep the level of customers’ engagement high with the staff. The bank is concerned for the benefits of the society so; it is practicing the CSR activities (Chen, 2015).

Benchmarking two value proposition

Maybank and CIMB bank are the leading and main competitors of the banking industry in Malaysia as Maybank is on the first position and CIMB is on the second position in the Malaysian banking industry. That is the reason, they are the leading banks among the public. From the above analysis, it is clear that the CIMB bank is doing well in the market. From the above analysis, it is clear that CIMB is doing well in the banking industry. From the evaluation with the Maybank, two value proposition competitive positioning and the market asset has taken. In case of market asset, it is observed that both the banks have similar products such as various kinds of debit and credit cards, loans, investments and various types of accounts for the customers. CIMB also provides the services of online banking, mobile banking, and supports in various areas i.e. culture, education, healthcare, environment, and welfare. Bank has introduced its own messaging app named CIMB EVA to manage the daily banking needs such as checking the account balance, and transferring the money. On the other hand, with the all types of services i.e. accounts, cards, investments and loans, there are other services provided by Maybank. Those are online services i.e. online ticketing, online prepaid top-up, online merchant with the mobile app of the bank to retain the customers (Rajola, 2013).

Further, in case of competitive differentiation, both the banks are the leading banks in the Malaysian banking industry. The position of both of the banks is similar in the market. But CIMB is one step ahead from the Maybank in terms of global expansion. Due to diversified business mix and well structured model, CIMB is able to retain the customers globally. The bank has around 40,000 employees in all over the world by which the bank is able to gain competitive strength and advantage in the market. But it is also observed that Mayabank is more customers focused rather than expansion as it maintains the long-term relationships with the customers. CIMB bank has to learn the strategy to maintain the relationship with the customers for long-term basis (Durkin &Howcroft, 2003).

From the above competitive discussion of both the banks, it can be said that both of the banks have many similarities in terms of value propositions for the customers. Both of the banks are providing similar kinds of banking products and services to their customers. They have effective and fast customer servicersand having appearance in the Malaysia as well as global market. Both the banks have their personal strategies to retain the existing customers and attract the new customers. They have their own policies to provide the satisfaction to the customers in terms of safety and security. This has developed differentiations between both of the banks. The policies and methods of the Maybank to attract the customers are not similar as CIMB. Maybank has the strategy to maintain the relationship with the customers by providing innovative banking services such as online payments and merchants. On the other hand, CIMB is also customer centric with the expansion in global market. Thus, it can be stated that the nature of business of both the banks are similar but their strategies to attract the customers and the process to provide value proposition is different (Dicken, 2015).

CIMB’s new value proposition and implementation plan

For the new value proposition plan for CIMB bank, it is important to understand the philosophy, competitive positioning, critical success factor and key values of the bank.

Organizational Philosophy

What the bank want to be?

To become the leading financial service provider in the ASEAN region

Organizational key values

How the bank does behave?

To provide good banking experience to the customers.

Mission statement

Competitive positioning

In which market, the bank will operate?

Global market including Malaysia and ASEAN region

Critical success factor

In which the company is best?

Innovative banking services including excellent customer service.

CIMB Bank is popular financial service provided bank in the AESAN region including Malaysia. The bank is popular because of its innovative banking services which fulfill daily banking needs of the services. For the effective value proposition, bank should focus on the customer, team, employees, integrity and sustainable results from the marketing. Based on the CIMB banks’ process, customers are the main reason for its existence. Hence, the bank must on the teamwork to stay competitive in the banking industry. Along with this, by doing development and innovation in the products and services of bank, it will definitely grow in the market as compared to its competitors. Having innovation and development activities, bank will be able to get sustainable results and retain the customers with the value proposition. With the sustainable results, the banking industry will perceive the CIMB banks very different as compared to the competitors (Puusa&Tolvanen,  2006).

It is clear that CIMB does banking with full of dedication and integrity to offer the value proposition to its existing customers. For the new value proposition, CIMB bank has to focus on the some new strategies such as innovation related strategy, design for the communication with the customers and employees to make aware about the new services.

Based on the analysis, it is observed that customer value proposition has the important role in every organization. It is understood that how the provided banking services are perceived and observed by the customers. It is very important for the bank to make balance to the value proposition provided to the customers. In present time, there is strong competition in the banking industry also. So, it is important for the bank to provide effective values o stay competitive in the market. In the time of changing environment, the needs and the demands of the consumers are changing and they are trying to find out more values in the services. The safety of money is more important for the customers now and they are seeking for the secure place for their money with the extra benefits for savings. So, there is the need to invest more time, money and research to understand the consumer market in the banking industry. By doing research, CIMB bank in the banking industry will be able to develop innovative services for its customers (Flint, Blocker and  Boutin,  2011).


This report describes the customer value proposition provided by the banking industry. Customers are seeking for new services in which they find monetary and social benefits. The above analysis has done on the basis of business process of CIMB bank which is the famous bank in the ASEAN region. Due to the value proposition, many companies are able to improve their competency and effectiveness in the target market. Further, it is observed that companies are always using the value proposition to differentiate themselves and their products from the competitors. By the value proposition, banks are able to provide effective services such as various accounts, different types of cards, and offers on loans and investments etc. To stay competitive in the market, the customers should be main aim of the banks. In the 21st century, banks are the important part of people’s life. So, CIMB bank should maintain its strong relationship with the customers for long-term basis.


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