Marketing Concept - Britvic

Quantitative research is done to find the accurate facts by evaluating the problems like opinion, behaviour by using numerical data. This research is based on theories, hypothesis, collecting, analysing the data to make the research accurate.

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.

Scientific method involves quantitative information. For example measuring changes in the body and analysing blood or urine samples. Body mass index is used to measure height and weight to distinguish whether an individual is a healthy weight.

Q1. Identify three key characteristics of the marketing concept. A. Marketing is very important and a key concpet in creating a succesful business. "Marketing is the management process responsible for identifying, anticipating and satisfying customer requirements profitabily". The marketing concept states that success is achieved by identifying needs and wants of the target market satisfying them better than competitors.

Quantitative research: In quantitative researches, surveys are conducted to collect numerical data. Most of the surveys include close-ended questions which are less time consuming. It is quite easy to collect such data as consumers tend to be more co-operative. The collected data is further analyzed for a proper conclusion.

Quantitative research defines the research that can produce statistics, solid facts, and numbers. It uses measurements and statistical analyses.

To conduct quantitative research, the first step is defining the problem, identifying the objectives and goals, and establishing research questions or hypothesis. It is followed by data collection and analysis with the application of various numerical and statistical approaches. Quantitative research is more factual in terms that we get concrete data with evidence to prove the results of our research.

            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.

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.

A key characteristic of the marketing concept is firstly customer satisfaction. The needs and wants of the customer is essential for any successful company. It ensures that all the products meets the expectations of the customer and ensures all round satisfaction for them and the company.

Definition of Marketing – Marketing can be defined as the process of converting wants into needs. In other words it can be defined as the process of selling products or services to the customers by an organisation.

Quantitative research methods are utilized to study the natural phenomena. So, it includes survey methods, formal methods, and numerical methods.

Peter Drucker: The aim of marketing is to make selling superfluous. The aim of marketing is to know and understand the customer so well that the product or service fits him and sells itself.