6 realistic conditions for marketing theory
Marketing has become one of the most important disciplines in business, but its underpinnings are still dubious. All development has mostly been concentrated to its surface, and I think that some attention to its foundations would sort out some discrepancies in these superimposed concepts. These embarrassingly simple points may add some reality to everyday marketing activities. 1) The transaction is the objective of all business. 2) The transaction is always accomplished when the buyer considers the value of the offer higher than the price asked for it (if not, he doesn’t buy). 3) As communication is central to marketing, brands are required to make it work. 4) Consequently, marketing can only be performed with branded products. 5) Value and brands exist in the human mind only – and in business they count only in the mind of the (potential) buyer. 6) This is why a theory of marketing demands a profound and up-to-date knowledge of human perception and behavioural science. If you want to study my reasoning in detail, download my General Theory of Marketing.