Introduction to Marketing
GLOBAL MARKETING : Executive Summary MAJOR ISSUES 1. ... ‘Keep it Simple’ / ’Back-to-Basics’ The greatest value that can be provided to a client when they purchase a service can be determined by considering the three ‘Principles of Marketing’ : (i) Create client / customer value : price is not something that I want to decrease and thus the ‘perceived benefits’ for the same price must be increased AND the ‘perceived costs’ must be decreased : Value = [ Perceived Benefits – Perceived Costs ] / Price (ii) Understand the marketing strategy of the competition : analysis of all competitors should be undertaken to understand their advantages and disadvantages.