COMM 103 Chapter 10: Chapter 10 – The Marketing Challenge
6 Dec 2016
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Document Summary
In its simplest context, the purpose of marketing is to design, develop, and communicate value. Marketing is the process through which organizations design, develop, and communicate the value of their products and/or services. Two fundamental principles associated with customer behaviour that will, hopefully, highlight the importance of this value-based approach to understanding the purpose of marketing are: Principle #1 customers don"t buy products or services they buy solutions to problems or needs. Principle #2 customers will not pay more for a product if they can get a similar product for less. To be successful in the execution of its overall strategy, an organization must be successful at both the product strategy level and the business strategy level. The easiest way to think about the concept of positioning, according to social marketer. Francois legarde, is to think about it as being the place in the consumer"s mind that you want your organization"s brand, products, and/or services to own.
