Marketing Concept

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Re: Marketing Concept

#1 Postby ashayscmhrd » Sun Jan 11, 2015 4:38 pm

The American Marketing Association states that “Marketing is the activity, set of institutions, and processes for creating, communicating, delivering and exchanging offerings that have value for customers, clients, partners, and society at large.” In simple terms it can be said that meeting the needs of a person by providing him/her requisite benefit and simultaneously creating profit for the organization is called marketing. Needs are the basic human requirements which get converted into wants and further into demands when backed by the ability of the person to pay for the commodity or service to fulfill the needs. The four most important components of marketing mix are the four P’s which is product, place, price and promotion. The concept of marketing deals with creating the right kind of product for its targeted customers which leads to a buyer’s market rather than a seller’s market and hence leads to proper kind of value proposition for the customers trough better and integrated marketing communication and creating and delivering the right kind of products to its target consumers.

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Re: Marketing Concept

#2 Postby binayscmhrd » Sun Jan 11, 2015 3:29 pm

Marketing is the set of processes for creating, communicating and delivering value to customers and managing customer relations in ways that benefit the organization and its stakeholders. Three features of the marketing concept are customer orientation, coordinated effort by all departments within the organisation to provide customer satisfaction and emphasis on long-term profit.
The marketing concept describes an ideal state of affairs. It exists when an organisation focuses all of its efforts on providing products that satisfy its customers. The customer is the focal point for how each area of the organisation is run. Products are created with the goal of satisfying customers’ needs and wants. It is the art of attracting and retaining profitable customers. The marketing concept is the philosophy that firms should analyze the needs of their customers and then make decisions to satisfy those needs, better than the competition.

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Marketing Concept

#3 Postby vikasimtn » Mon Nov 24, 2014 2:41 am

Basic purpose of business is to create customers. Marketing and innovation are two critical function of enterprise. They create profit and generate revenue for the enterprise. Anything that provides a new reason to buy is known as Innovation. Marketing is the process through which firm create value for its chosen customers. Value is created by meeting customer needs. Need is the felt the privation of some basic satisfaction. Wants are desire for specific satisfaction. Marketers will create wants not need.
To sustain in market, product or service should be differentiated. Product can be differentiated into following: Form, Feature, Customization, Performance Quality, Conformance Quality, Durability, Reliability, Repairability and Style. Services can be differentiated into following: Ordering Ease, Delivery, Installation, Customer Training, Customer consulting, Maintenance and Repair, Returns.

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Re: Marketing Concept

#4 Postby jayprakashimtn » Sun Nov 23, 2014 11:58 pm

Marketing concept emphasizes on positioning, it's about finding the right consumers for your product. Marketing is also beneficial to the economy in general and product design and development, because it gives a competitive edge to the product which deserves it. If there is a strong demand for a product and this product is marketed, then even if the other products are marketed and awareness is generated for all the products available in the market , compared to the other less demanded products this product will find a larger consumer base.

So marketing doesn't only help firms sell their products, it helps them produce products that satisfy the demand of many by finding out what it is that the consumers demand.

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Re: Marketing Concept

#5 Postby NehaB » Tue Oct 07, 2014 10:02 pm

This concept starts with the term market .In market there are so many buyers and sellers.This concept mainly focuses on customers and competitors and profitability.Marketing is that where individuals and organization have a choice to make.It is the process of finding out customers needs and serving those needs profitably.Market provides the desire value to customers.4p's are included in marketing concept i.e Product,Price,Promotion,Place.So in marketing concept customers needs are served and company earns profit.Market intelligence is important to understand customers.......

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Re: Marketing Concept

#6 Postby bhawna » Tue Oct 07, 2014 9:44 am

Marketing concept starts by analyzing the needs of target audience and then they make decision to satisfy those needs better than that of their competitor. But, these days generating the need is not just sufficient to make sales marketing should also create a want in the target audience. When we see at the macro level there are some products for which marketing has to create want and desire in the mind to the target customer so that they buy the product. For example, in case of luxury items like watches, perfumes just by creating need the one cannot sell the product one has to create desire and want for the product, in this case marketing should opt for niche marketing.

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Re: Marketing Concept

#7 Postby saketroy2 » Tue Sep 30, 2014 9:44 am

If you look at these days consumer behavior, need is not the only base of product. want has become a factor where marketers try to manipulate you by showing the advantages of these products and u take action. If u think, washing machine is not a need, its a want. Its a luxury which saves ur time and somehow status icon too. your neighbor might come or may talk behind...he has not even a washing machine...These factors leads to development of new concepts and products too

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Marketing Concept

#8 Postby vitaj » Wed Aug 06, 2014 10:09 pm

AThe marketing concept starts with the market. The marketer then tries to understand the customer need in the market. Then he does Integrated marketing and then he designs the product. The Tata Nano cas is the classic example of this. They first identified the cost and then try to manufacture the vehicle in that cost. A good marketer always tries to use this concept to deliver goods and services. by this concept he is much closer to the customers and the customers also remain loyal to the company.

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