COMM 200 Lecture Notes - Lecture 11: Pricing Strategies, Netflix, Marketing Mix
27 Nov 2017
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Document Summary
Our effort is communicating why our product is the best solution to other need and then ensuring it is available for customer acquisition through convenient delivery options and at a price point that represents best price/quality trade-off. An effective marketing mix effort should result in achieving a definitive fit between our product/service offerings and the needs of our potential customers. Value proposition strategy broadens the focus from tangible attributes (functionality, packaging, etc) to also include branding, emotional bonding, peer acceptance and post purchase service support. Must think about what product/service offers that makes it the best solution. By viewing it via value proposition attributes, the focus of the marketing shifts from simply capturing consumers to creating positive performance gaps between the company and its competitors. Tangible product attributes + intangible product attributes = develop. Think blockbuster vs. netflix: netflix did not choose to build brand off of movie titles-> chose to build it off of value proposition (convenience acquiring movies)
