- The essence of marketing can be summarized in three great principles. The first identifies the purpose and task of marketing, the second the competitive reality of marketing and third the principal means for achieving the first two.
#1- The Customer Value and Value Equation : V=B/P
(Where; V=Value, B= Perceived Benefits, P= Price)
*Value is increased by increasing the numerator and/or reducing the denominator
#2- Competitive or Differential Advantage :
The total offer must be more attractive than that of the competition in order to create a competitive advantage.
#3- Focus or the Concentration of Attention : The task of creating Customer Value at a Competitive advantage.
