Bb0001 - Q.2 Explain the Marketing Concepts with Its Relevance in Today’s Marketing Environment.

Marketing Concept The marketing concept can be defined as the idea that an organization should strive to satisfy the needs of customers, while also trying to achieve the organization’s goals.1 The marketing concept is about matching a company 's capabilities with customer wants. This matching process takes place in what is called the marketing environment. Businesses have to take into account their competitors, as well as changes in the political, economic, social and technological environment. The before mentioned factors must be taken into account as an organization tries to match its capabilities with the needs and wants of its target customers. An organization that adopts the

Concepts of marketing- marketing= a social and managerial process by which individual and groups obtain what they need and want through creating and exchanging products and value with others.

| The marketing concept stresses the commitment to satisfying customer needs and wants with an entire range of marketing tools, not just selling or advertising.

The author of the article shows the reader how marketers try to persuade the consumer to buy the products or items. In the article, the author tries to make the reader feel comforted with his use of strong use of diction. Throughout the article, the author uses words like “sore-footed” “soothes” and “pseudoscience” to describe to

(LO1) Marketing concept is defined as “is the philosophy that firms should analyze the needs of their customers and then make decisions to satisfy those

            The Marketing Concept.  This is a business philosophy that challenges the above three business orientations.  Its central tenets crystallized in the 1950s.  It holds that the key to achieving its organizational goals (goals of the selling company) consists of the company being more effective than competitors in creating, delivering, and communicating customer value to its selected target customers. The Marketing Concept represents the major change in today’s company orientation that provides the foundation to achieve competitive advantage.  This philosophy is the foundation of consultative selling.

Marketing today is virtually present in all aspects of life and it addresses virtually anybody, from young children to senior consumers, and selling anything from toys and diapers to medicine. And in ensuring an increase in the demand for the advertised product, often times marketers use deception in their campaigns.

The marketing concepts is important for marketing managers because it dictates: D. day-to-day decisions that managers will make.

The essence of the marketing concept is the idea of placing customer needs at the centre of

Bentley. The product idea is the oldest in the industry. Consumers prefer goods that are extensively available/low-priced concentrating on high assembly efficiency, low cost and mass circulation.

The Marketing Concept The marketing concept has evolved over the last years, marketing reflects to a key approach to doing business. An organisations objective is to make profit, to do this they have to consider the marketing concept, in order to satisfy customers. For an organisation to be successful should divert its attention away from particular products and towards the interest of the customers. Customers changing their needs and wants influence an organisations strategies and plans. Meeting customer’s needs is the main key in marketing.

Nearly two or three decades back, nobody would have ever dreamt in their wildest dreams the way in which the marketing would have metamorphosed the needs/requirements of consumers. Take for example mobile phones: we never had that but its only marketing which has made it so tempting that everyone buys it, and even spends a large amount of money on it. As Philip Kotler says, “If production is creating utility, than marketing is creating demand.” What marketing has done is remarkable for the whole idea of business concept. The point is that, the concept of selling few years back talked about the pre product market research. This involves studying te market and consumer behavior and than work on for the product that is most required in the target market segment. But, suddenly things have changed. Now, companies bring in classy, high quality new products and also spend a large amount of money on its advertisement through TV, Newspaper, Journals and Internet sources. Now it becomes very difficult to restrain from buying the product with certain unique feature, which has yet to become popular. Consumers are over and over again jiggling on the subject of what they actually require and desire. If marketing just reflects what consumers’ requirements and needs, when consumers alter their mind in relation to what they wish for and how, retailers as well as manufactures soar to offer them what they desire, but the subsequent, consumers altered their mentality and want something

Marketers in today 's business surroundings are given the specific test of dodging clashed informing, oversaturation of promoting activities, consumer dithering and monitored behaviour keeping in mind the end goal to accomplish their destinations of improving long haul brand reliability and empowering product acquisitions. While there are environmental factors which may impact consumer’s behaviour, the hugest artificiality originates from mental impacts connected with promoting correspondence and individual translation of brand and product value. By growing this worth past base level understanding, advertisers can impact consumer behaviour and divert buys over developed timeframes. To accomplish such principles, on the other hand, it is

Concept of marketing: companies who believe in this concept are of the opinion that this success can be achieved only through consumer satisfaction

Marketing concept is a business philosophy that guides the marketing activities of a company. This concept has three main characteristics as follows.