Using an example, explain how the concept of value drives variance in marketing activity (2 marks).

1. Understanding Value: The concept of value in marketing refers to the perceived worth of a product or service in the eyes of the consumer. This value can be influenced by various factors such as quality, brand reputation, price, and personal preference.

2. Variance in Marketing Activity: The perceived value of a product or service can greatly influence the marketing activities of a company. For example, if a company is selling a high-end luxury car, their marketing activities will be vastly different from a company selling budget-friendly cars.

3. Example: Let's take the example of Apple and Xiaomi, two smartphone manufacturers. Apple's products are perceived as high-value due to their innovative technology, sleek design, and strong brand reputation. Therefore, their marketing activities are focused on highlighting these aspects, and they target a consumer base that values these factors and is willing to pay a premium for them.

On the other hand, Xiaomi's products are perceived as offering good value for money. Their marketing activities are therefore focused on highlighting the affordability and functionality of their products, targeting a consumer base that is price-sensitive and values cost-effectiveness.

In conclusion, the concept of value drives variance in marketing activity as it influences what aspects of a product or service are highlighted in marketing campaigns, and what consumer base is targeted.