Concepts And Process Of Marketing

Marketing is about understanding and acknowledging the needs of customers and leaving an impact on developing the absolute best product to meet their needs by the business. Marketing comes into account for any business and how they can develop to be the best and deliver the best customer satisfaction.

1. Ask five businesspeople from different industries what they think marketing is. Evaluate their definitions and discuss whether or not they are consistent with the goal of creating customer value and managing profitable customer relationships.

Marketing is an organizational function and a set of processes for: creating, communicating, and delivering value to customers.

The different marketing concepts that can aid in understanding a company includes company overview, mission and vision, organizational environment, competitive advantage, corporate and business strategies, organizational structure, organizational culture, social responsibility, company policies and company leadership. These concepts will be used in the discussion of findings for this report.

            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 is the science and art of exploring, creating and delivering value to satisfy the needs of a target market at a profit. Marketing identifies unfulfilled needs and desires. It defines, measures and qualifies the size of the identified market and the profit potential.[Dr. Philip Kotler]

Selling concept usually practiced with unsought goods but marketing concept practiced with goods according to customer’s needs and wants. Marketing concept is good in almost all situations, while selling concept gets useful when a company faces over capacity, otherwise holds a great deal of risks.

Marketing is an essentially about marshalling the resources of the organization so that they can meet the changing needs of the customers on whom the organization depends. As a verb, marketing is all about how an organization addresses its markets. Marketing is “The management process which identifies, anticipates and supplies the customer requirements efficiently and profitability”.

The marketing concept is an overarching concept that links the philosophies, practices and theories of marketing. It closely examines an organisations ability to analyse the needs of the customer and make informed decisions based on these needs. These decisions are based on evidence and work towards matching the organisations capabilities and the customer needs, ultimately, to satisfy both the organisation and the customer.

Marketing is about the relationship between an organisation and its marketplace, and in particular its customers and potential customers. Customers are the lifeblood of a

The Marketing Concept. This is a business philosophy that challenges all of the other business concepts. It says that its organizational aims consists of the company being more effective than their competitors in creating, delivering, and communicating customer value to its target customers.

Marketing Management Philosophies – it is described as carrying out tasks to achieve desired changes with target markets. There are five alternative concepts under which organization conduct their marketing activities. These are:

Definition of marketing: Marketing is based on the thinking about the business in terms of the needs of customers and satisfaction. Marketing is different from selling because Selling concerns itself with the tricks and techniques of getting people to exchange their cash for your product. It is not concerned with the values that the exchange is all about. The main purpose of the marketing is to increase the sales of the products and getting more profit for the company.

Marketing is defined as a simple process of communicating the true value of a product or service to the customers, for the actual purpose of making a sale of that product or service. Marketing is to be looked at as one of the most important organizational function and a set of processes for creating, delivering and communicating value to the customers or potential customers, and customer relationship management that also benefits the organization. It is the science of choosing target markets through market analysis and