COMM 103 Lecture Notes - Lecture 8: Price Point, Value Proposition, Desertion

• School: Queen's University
• Department: Commerce
• Course: COMM 103
• Professor: Gregory Libitz

Document Summary

Marketing purpose: to design, develop, and communicate value of their products and/or services. Principles associated with customer behaviour: custo(cid:373)ers do(cid:374)"t (cid:271)u(cid:455) produ(cid:272)ts or ser(cid:448)i(cid:272)es they buy solutions to problems or needs, customers will not pay more for a product if they can get a similar product for less. Do we understand our targeted customers needs and desires: assessment of our ability to respond. Do we believe that our current or anticipated product and/or service represents a viable solution to the targeted customers: value proposition creation and positioning. Can we create a value proposition that positions our product and/or service as the best solution to our targeted customers: distribution capabilities. Is there an existing or potential viable distribution model for delivery of our product and/or service to the marketplace in a manner that effectively reaches our targeted customers: price point verification.