The Marketing Process

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.

As you can see above on the table you, there are different figure number that represents different situations of the business, there are the variable costs figures numbers that may change as the business make more sells, the fixed costs which is the costs that do not change in relation to how the business progress. In the table above you will find a blue line which represent the break-even point, this point will show you when the business will

Farron Company, which has only one product, has provided the following data concerning its most recent month of operations:

(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

When Quiksilver announced the start of its women line Roxy in 1990, they defined the brand as a “fun, bold, athletic, daring and classy” brand for young women. Market segmentation is a crucial marketing strategy and Roxy utilizes the four bases that are commonly used for segmenting consumer markets including geographic, demographic, psychographic, and benefits sought segmentation. The geographic segmentation is ideally unlimited for the Roxy target market because the brand offers clothes for both warm and cold weather, however, it focuses mainly on the “beach lifestyle” and is generally more popular in beach towns. The demographic segmentation of the Roxy brand, is aimed to attract young women between the

This method uses simple algebra, and usually focuses on finding the quantity of units that must be manufactured and/or sold, although you may need to find the proper sale price, or less often one of the other variables given instead. The other method for calculating the break-even point is the contribution margin method, which is the same as used by loscostos.info: [Fixed Costs/ (Sales – Variable Costs)] = Break-Even point in units sold. This method will give you how many units to be manufactured to reach zero profit, but can easily be retooled to give the break-even point in revenue. Instead of dividing by the contribution margin, you divide by the contribution margin ratio, which is found by dividing the contribution margin by the sales revenue, which looks like this: (Sales – Variable Costs) / Sales = Contribution Margin Ratio. Calculating the Break-Even point with this method results in this formula: [Fixed Costs / ((Sales – Variable Costs) / Sales)] = Break-Even point in dollars. Finding the Break-Even point in either respect is useful because it tells a company the bottom line in how much product they must sell or how much they must sell their product for in order to cover their expenses. Finding a Target Profit with these equations is as easy as adding your target to the end of the equation or in the

Product Orientation – This is when the company decides to focus mainly on their products features and the quality of the products rather than the customers. The company will choose to produce high quality products to

Product concept: This is when a business products is part of their business brand image. The products shape the business and its unique selling point in the market.

            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 5 marketing management orientations are production concept, product concept, sales concept, marketing concept and social marketing concept.

The traditional view of marketing is that the firm makes something and then sells it. A) Will not work in economies where people face abundant choice. B) New

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.

In general terms, marketing is all related to the places of buying and selling of goods and services to satisfy customers’ needs. Nowadays marketing is the most important issues for success of every business marketing is the activity, set of institution, and process for creating, communicating, delivering, and