Marketing Concepts

2095 WordsJul 20, 20119 Pages
Marketing Concepts MAR110 Study Period 4, 2010 SWINBURNE UNIVERSITY OF TECHNOLOGY Research Report “Marketing’s really just selling with a posh name! What’s all this about a Marketing Concept?” EXECUTIVE SUMMARY This research report aims to depict if there is any truth to the statement “Marketing is just selling with a posh name...” it also aims to illustrate the marketing concept, which refers to the second half of the statement “ .....What’s all this about the marketing concept” In order for an organisation to be successful with its marketing activities it is crucial to understand the difference between marketing and selling along with the philosophy of marketing. Once this understanding is clear the organisation…show more content…
Marketing MARKETING PHILOSOPHIES Previously not all organisations understood that marketing revolves around knowing your customers, their needs and wants, providing products or services tailored to suit these needs and wants which creates satisfaction which in turn leads to long term customer relationships resulting in greater profitability for the organisation. Prior to the marketing evolvement the thinking and perceptions predominantly placed other factors first rather than the customer implementing concepts that narrowed the success of an organisation (refer to Appendix 1). Today we understand that in order to lead an organisation to success and for the organisation to increase profitability in order for growth the needs and wants of their customer must be satisfied; the marketing concept is commonly adapted in this instance. The Marketing Concept Defined in Marketing – a practical approach “The Marketing Concept is a business philosophy which states that the satisfaction of customers’ wants is the economic and social

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