The Evolution Of Company Orientations Toward The Marketplace

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1. Describe the various stages in the evolution of company orientations toward the marketplace. Why is it important to have a Holistic Marketing Concept Orientation? Chapter 1, Session #1 Handout. Marketing concept is an important concept for the company that underlines significance of the determination and satisfaction of consumers stated and unstated wants and needs. The company can achieve its goals through this satisfaction and determination. The first decade of the 21st century challenged firms to prosper financially and even survive in the face of an unforgiving economic environment. Marketing is playing a key role in addressing those challenges. Finance, operations, accounting, and other business functions won’t really matter without sufficient demand for products and services so the firm can make a profit. In other words, there must be a top line for there to be a bottom line. Thus financial success often depends on marketing ability. Nowadays marketing is a tool for many companies how to deal with various challenges in economic environment. It can be a useful tool for organizations to provide new products and services for customers. Looking at company orientation toward the marketplace, there are five orientations can be identified: the production concept, the product concept, the selling concept, the marketing concept and the holistic marketing concept. 1. The production concept. The production concept is one of the oldest concepts in business. It holds that
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