Marketing Concepts: The Five Concept Of Marketing

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

Mr. Smith has decided to use one of the oldest marketing concepts, production. The Production Era is said to have taken place primarily during 1870 to 1930, therefore this concept seems to be very dated. (Fullerton, 1988) This concept believes that consumers are more interested in obtaining a product that is readily available at a good price rather than a quality product with quality features. Mr.

Which of the following core standards of marketing involves collecting and using data to make future business decisions?

(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 concept is the idea that achieving organizational goals depends on knowing the needs and wants of the target markets and delivering the desired satisfactions better than competitors do.

            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.

Selling concept: boots is offering their customers to 3 for 2, buy one get one free, advance age card off for specified product, baby event and etc. these are increase the sales to less moving products.

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.

According to the book the five marketing management concepts are: production, product, selling, marketing and societal marketing concept.

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

There are many ways to apply these theories to any organization. There are four theories of marketing concept that are called the 4 P's: product, place, price, promotion. An example of the marketing concept is Microsoft. Microsoft Company is an international company that makes many different and good products to satisfy all customers’ needs and to full all organization’s goals. Microsoft’s marketing mix consists of product, place, price, and promotion.

Product concept gives us the idea that customers will choose new or improves products, which offers the most quality and performance. Societal marketing concept gives us the idea that customers will choose products that satisfy them better than others do and are good for the society. Societal concept can get complicated but product concept is simple.

A) societal marketing B) marketing C) selling D) production E) product Answer E Difficulty Moderate Chapter LO 3 Course LO Discuss the fundamental concepts of marketing 15) Voize, a leading mobile phone manufacturer, focuses on low labor costs and mass distribution to ensure the continuous availability of its products at reasonable prices. Voize most likely follows the ________. A) customer-driving marketing concept B) marketing concept C) societal marketing concept D) production concept E) selling concept Answer D Difficulty Difficult Chapter LO 3 Course LO Discuss the fundamental concepts of marketing AACSB Analytic thinking 16) According to the product concept, a company should ________. A) make products that

They are many functions that marketing, but here are the four competing philosophies that strongly influence an organization’s marketing process, which are production orientation, sales orientation, market orientation, and societal marketing orientation. (Lamb, Hair, McDaniel, 2014).

Many people think that production of goods and service is important for their life. However, they don’t realize that marketing is a significant process for carrying goods and service from producers to them. Marketing doesn’t only mean to sell products or persuade customers buy goods they actually don’t need. Successful marketing provides more choices of products and guides a correct direction for customers to purchase right goods, as result of customer satisfaction. In other words, customers feel happy and satisfied with goods and services because products meet with customers’ needs and expectation. The best result of marketing is customers will continue to visit the stores they once consumed. So companies will advantageously catch higher customer lifetime value through a correct process of marketing. Both companies and customers will gain profit because companies will make a close relationship with customers over a lifetime and customers will get what they need.