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Linn: General Theory of Marketing   [pdf]
1.   The Crucial Definition
2.   The First Deduction
3.    The First Postulate
4.   The Second Postulate
5.   The Second Deduction
6.   The Third Deduction
7.   The Third Postulate
8.   The Fourth Postulate
9.   The Fourth Deduction
10. The Fifth Deduction
Summary
Appendix 1
Appendix 2


 

 

 

 

 

 

 

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3. The First Postulate: Value Price triggers the transaction

Price and value are, in principle, the same phenomenon regarded from the opposite positions. Price is the level above which the seller is willing to exchange his/her product for money. The buyer’s opinion on value in relation to price is expressed by the amount of money he/she is ready to exchange for the product. The transaction will be performed at the moment when the buyer realises that the value of the offer is equal with or higher than the price asked (including all costs that he/she is aware of).