Marketing Concept Of Marketing : Marketing

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Marketing concept

Marketing plays a major function in any business organisation. The essence of marketing is about designing and managing a product and generating exchanges of value from where both the customer and the organisation can attain benefits. 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 (Solomon, Marshall & Stuart, 2009, p.13). Marketers need to generate the ideal mix of the marketing elements to meet the needs of their customers in their target market. Customer satisfaction is the key objective in the marketing concept. Marketing concept outlines that “marketing begins and ends with customers” (Pride, 2011, p.35). Marketing concept also requires the business to not only meet the needs of customers but also the goals of the organisation. Organisations like Threadless have developed unique marketing models to provide satisfaction to both customers and the organisation. Marketers are required to meet the objectives and create utility for both its customers and the organisation.
Significance of marketing for organisations

Marketing has a major role in operation and success of any organisation. Marketing is the only the business function responsible for generating revenue and profits for the firm. Peter Drucker described this as “marketing and innovation produce results: all the rest are ‘costs’.” (Kotler &
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