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

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.

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

The overall concept of marketing is a management philosophy according to which a firm 's goals can be best achieved through identification and satisfaction of the customers stated and unstated needs and wants. Companies should identify the needs of their customer and produce products and

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

(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

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 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 concept is an ever learning and never ending concept. Marketing plays a vital role in any organization’s success. The concept of marketing is being redefined all the time.

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

Marketing is the methodology of communicating the value of a product or service to customer for the purpose of selling that product or service.

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

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

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.

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