The Marketing Concept Essay

2205 words - 9 pages

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.

The chartered institute of marketing used the following definition:

Marketing is “The management process responsible for identifying,
anticipating and satisfying customer requirements profitably”.[1]

The definition explores that the customer is at the centre of the
organisations activity. “Marketing consists of individual and
organisational activities that facilitate and expedite satisfying
exchange relationship in a dynamic environment through the creation,
distribution, promotion and pricing of goods, services and ideas.”[2]
Understanding customers and anticipating their requirements is a core
theme of effective marketing, for a business to be successful it
requires satisfied customers who return to the business to provide
additional custom.

Customer’s requirements change as their needs alter, having a change
in spending powers due to increase in salary. If customer satisfaction
is not met then an organisation will look for alternatives. Customers
require the right goods, to be available at the right price at the
right time and in the right place.

For an organisation to provide a successful profit making product, for
example, the Nokia mobile phone company, needs to ask its self
‘weather they could provide a mobile phone that is different from
other mobile phones,’ to be successful this is the main aim for Nokia
to provide customers with a mobile phone that would meet their
requirements; today customers require a mobile phone with additional
feature such as, a digital camera that is built in the phone, rather
than having an external camera with the phone which is attachable.
For Nokia to stay in the business they need to meet these basic
requirement of the customer. If Nokia does not meet the customer
requirements, then the customers will walk away and will use another
brand such as Samsung, Erickson etc. Nokia was successful because they
met the needs of the customers.

“The Marketing concept holds that the key to achieving the
organisational goals lies in determining the needs and wants of target
markets and delivering the desired satisfaction more efficiently and
effectively than the competition”[3]. For an organisation to provide

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