Marketing can be defined as 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.
Marketing is a product or service selling related overall activities. It generates the strategy that underlies sales techniques, business communication, and business developments. It is an integrated process through which companies build strong customer relationships and create value for their customers and for themselves.
Marketing is used to identify the customer, satisfy the customer, and keep the customer. With the customer as the focus of its activities, it can be concluded that marketing management is one of the major components of business management. Marketing evolved to meet the stagnation in developing new markets caused by mature markets and overcapacities in the last 2-3 centuries. The adoption of marketing strategies requires businesses to shift their focus from production to the perceived needs and wants of their customers as the means of staying profitable.
The term marketing concept holds that achieving organizational goals depends on knowing the needs and wants of target markets and delivering the desired satisfactions. It proposes that in order to satisfy its organizational objectives, an organization should anticipate the needs and wants of consumers and satisfy these more effectively than competitors.
We as human beings have evolved into complex specialized lifestyles that in order to survive and lead we need to market our core competencies. Therefore, the importance of marketing concept is vital to our survival and needs to be implemented in our daily lives. Of course we need to tailor this concept to enhance our lifestyles and our organizational / personal goals in order to be successful.
What determines the marketing concept? It is the 4 Ps—product,place (distribution), promotion, and price—represent the variables that are within the control of the firm (at least in the medium to long run). In contrast, the firm is faced with uncertainty from the environment. How is it done? Through segmentation, targeting and positioning. Product target focus is segmentation, product consumer identification is targeting and positioning involves pricing, features and availability.
Having defined the concept and its importance let us turn to the various examples of marketing concepts which have created an impact in our lives. Examples have been drawn from everyday FMCG (fast moving consumer goods) which we consume in our daily lives and a motor car (aspirational acquisition) so that we could comprehend the spectrum of the marketing concept. No judgement on the morality or the success or failure of the concept is being discussed here due to the fact that prominence to the concept may be lost.
Marketing concept could be both a science and an art; marketing plays a very important role in our lives by affecting our day to activities such as the food we eat, the cars we drive etc.
A few years back, a loaf of bread use to be a load of bread, today if you were ask for loaf of bread you would be in turn asked if you want brown , whole grain, multi-grain and so on. In fact at times I think we are also going in the American way of increasing choice for the consumer to the point of confusion, for people who want to know more about increasing choice and confusion could read Paradox of choice by Barry Schwartz. But coming back to the Whole Grain/Multi Grain phenomenon in food products today health seems to be a plank on which every food manufacturer wants to climb on, be it the old Maggi or the new Horlicks - Foodles to even Kellogg's corn flakes. The idea is probably to work on the anxiety of the mother who sees the child glued in front of the TV or computers rather than going out and playing, and the increasing consumption of pizzas, burgers, chips etc.,
One of the biggest factors that facilitate the buying of a particular car in India is its value for money and Tata with their Nano aimed just to do that. Nano is the cheapest car in the world. Nano had in fact brought India and the Indian automobile industry into highlight as no other event had done earlier, there were concerns worries that Indian roads will soon be full of Nanos and the already congested road infrastructure would fall apart.
Having read through two examples of marketing concepts we can come to the basic premise of understanding the whole gamut of marketing. It is used to sell a product profitably and bring positive cash flows to the organization. Since we live in a society certain rules do apply here. Firstly, it should not step on the basic fabric of relationships – family, neighbor, etc., Secondly; it should not mislead people to change their moral values which hold up our society. Marketing concepts which done with both of these in mind will uphold the corporate social responsibilities of business and will benefit us in the long run.
Reference: http://businessays.net
Marketing is a product or service selling related overall activities. It generates the strategy that underlies sales techniques, business communication, and business developments. It is an integrated process through which companies build strong customer relationships and create value for their customers and for themselves.
Marketing is used to identify the customer, satisfy the customer, and keep the customer. With the customer as the focus of its activities, it can be concluded that marketing management is one of the major components of business management. Marketing evolved to meet the stagnation in developing new markets caused by mature markets and overcapacities in the last 2-3 centuries. The adoption of marketing strategies requires businesses to shift their focus from production to the perceived needs and wants of their customers as the means of staying profitable.
The term marketing concept holds that achieving organizational goals depends on knowing the needs and wants of target markets and delivering the desired satisfactions. It proposes that in order to satisfy its organizational objectives, an organization should anticipate the needs and wants of consumers and satisfy these more effectively than competitors.
We as human beings have evolved into complex specialized lifestyles that in order to survive and lead we need to market our core competencies. Therefore, the importance of marketing concept is vital to our survival and needs to be implemented in our daily lives. Of course we need to tailor this concept to enhance our lifestyles and our organizational / personal goals in order to be successful.
What determines the marketing concept? It is the 4 Ps—product,place (distribution), promotion, and price—represent the variables that are within the control of the firm (at least in the medium to long run). In contrast, the firm is faced with uncertainty from the environment. How is it done? Through segmentation, targeting and positioning. Product target focus is segmentation, product consumer identification is targeting and positioning involves pricing, features and availability.
Having defined the concept and its importance let us turn to the various examples of marketing concepts which have created an impact in our lives. Examples have been drawn from everyday FMCG (fast moving consumer goods) which we consume in our daily lives and a motor car (aspirational acquisition) so that we could comprehend the spectrum of the marketing concept. No judgement on the morality or the success or failure of the concept is being discussed here due to the fact that prominence to the concept may be lost.
Marketing concept could be both a science and an art; marketing plays a very important role in our lives by affecting our day to activities such as the food we eat, the cars we drive etc.
A few years back, a loaf of bread use to be a load of bread, today if you were ask for loaf of bread you would be in turn asked if you want brown , whole grain, multi-grain and so on. In fact at times I think we are also going in the American way of increasing choice for the consumer to the point of confusion, for people who want to know more about increasing choice and confusion could read Paradox of choice by Barry Schwartz. But coming back to the Whole Grain/Multi Grain phenomenon in food products today health seems to be a plank on which every food manufacturer wants to climb on, be it the old Maggi or the new Horlicks - Foodles to even Kellogg's corn flakes. The idea is probably to work on the anxiety of the mother who sees the child glued in front of the TV or computers rather than going out and playing, and the increasing consumption of pizzas, burgers, chips etc.,
One of the biggest factors that facilitate the buying of a particular car in India is its value for money and Tata with their Nano aimed just to do that. Nano is the cheapest car in the world. Nano had in fact brought India and the Indian automobile industry into highlight as no other event had done earlier, there were concerns worries that Indian roads will soon be full of Nanos and the already congested road infrastructure would fall apart.
Having read through two examples of marketing concepts we can come to the basic premise of understanding the whole gamut of marketing. It is used to sell a product profitably and bring positive cash flows to the organization. Since we live in a society certain rules do apply here. Firstly, it should not step on the basic fabric of relationships – family, neighbor, etc., Secondly; it should not mislead people to change their moral values which hold up our society. Marketing concepts which done with both of these in mind will uphold the corporate social responsibilities of business and will benefit us in the long run.
Reference: http://businessays.net