What Marketing Concept Means - Essay Example

? Kumar and Reinartz define marketing as a process of communication that occurs between a business organization and its target market. Kumar and Reinartz (2012) further observe that the main aim of an organization to engage in marketing activities is to sale its products, and notify the target market on the existence of its products. Marketing is therefore a concept that most major organization use for purposes of meeting their objectives. Take for example coca cola. As a marketing strategy, coca cola decided to be one of the financiers of the 2010 world cup that was held in South Africa (Boone, 2012). Boone (2012) further denotes that coca cola used the social media, the print media, and the electronic media to advertise the products and services that it offers during this period of the world cup. By looking at this strategy of coca cola, we can denote that advertising is an important element of the principles of marketing. The main aim of carrying out an advertisement is to persuade the target market on the need of buying the products under consideration, and promoting the product under consideration. Russell (2012) denotes that for an organization to achieve success and efficiency in their marketing strategies, they must develop an advertisement that has the capability of persuading its target market on the need of buying into the products of the company. For example, an effective advertisement has to contain the name of the product, the usage of the product, and the value in which a customer will get by using the products under consideration (Kozmetsky, 2012). Companies such as Nokia, Samsung and Apples have developed an advertisement strategy that is always very effective in persuading their target markets on the importance of buying their products. This is by aligning the various technological needs of their target markets in their products, and communicating what they have done to their customers (Kozmetsky, 2012). Kotler and Armstrong (2012) believe that marketing concept involves developing policies products aimed at satisfying the various needs of the customer. In the current era, many business organizations in the world aim at achieving efficiency in the manner in which they meet their objectives. Kotler and Armstrong (2012) observe that the main objective of a business organization is to maximize profits, and increase their market share. To achieve this objective in an efficient manner, an organization must integrate all the four concepts of marketing, while developing a marketing strategy. These concepts are, product, price, promotion, and place. Under the principles of marketing concepts, Ramachandra and Chandrashekara (2010) believe that an organization will seek to improve on the quality of their products, and minimize costs for purposes producing products which are of high quality value, and affordable to the majority of its target market. By using these policies and concepts, the organization might manage to increase its market share, and its profitability. On this basis, the marketing principles of product and price come into place. Brenkert (2008) believe that the quality of an organizations product will determine whether it manages to satisfy the various needs of customers. This is because the notion of marketing concept involves developing products whose main aim is to satisfy the various needs of customers (Brenkert, 2008). If a product does not satisfy the various needs of customers, then chances are high that the company might fail to make sales (McDaniel and Gates, 2013). This might result to losses, and the eventual closure of a business organization (Brenkert, 2008). The pricing of a product is also a very important aspect of marketing. The price of a product determines whether customers might afford the product under consideration, or fail to afford it. Ramachandra and Chandrashekara (2010) denotes that if the products of an organization are very expensive, and of high quality, then they will attract the most affluent people within the society. Take for example the products of the automobile giants, BMW and Mercedes Benz. These vehicles are very expensive, and hence it is only the rich people of the society who can afford to buy them (Kozmetsky, 2012). Another example is the products of Toyota Company. The prices of vehicles belonging to Toyota are very affordable, and hence many people are able to buy them. People buy them, not because they are cheap, but also because these vehicles are of high quality. Because of the philosophy of developing vehicles which are cheap and of high quality, Toyota manages to control a large percentage of the automobile market (Kozmetsky, 2012). On this basis, the prices of a product will always determine the type of customers who will buy and use the products under consideration. On this basis, Kozmetsky (2012) denotes that a company that produces products which are of high quality, but affordable, will manage to stay ahead of their competing companies. Promotion and place also form an integral principle of marketing concept. As discussed earlier, promotion involves advertising the products of the organization, and initiating policies that will manage to convince customers that the product under consideration will help in satisfying their various needs (Grewal and Levy, 2010). An organization can use incentives such providing after sales services to a customer who purchases the products of the organization (Cadogan, 2009). Take for example Samsung. If an individual purchases the products of Samsung, there is always a one year warranty attached to the product. This is a promotional strategy developed by Samsung for purposes of creating customers loyalty (Ramachandra and Chandrashekara, 2010). Phillips (2002) denotes that market orientation refers to the actual implementation of the policies developed under marketing concept. This involves advertizing the products, and carrying out cost cutting measures for purposes of developing a product that is affordable. For effective implementation of marketing policies, there is a need of research and development (Philips, 2002). Through research, an organization will manage to gather data on the marketing trends and consumers needs. Philips (2002) further denotes that the information that is gathered through research is used to create a marketing strategy that is effective in persuading customers to buy the products of the company Philips (2002) denotes that under marketing orientation, an organization will try to look at the most efficient methods of implementing polices that are aimed at satisfying the various needs of the customer. Take for instance a company that operates in China. When developing a marketing strategy aimed at persuading the Chinese to buy the products of the company, there is need of identifying the various cultural believes, and consumption habits of the Chinese. Grewal and Levy (2010) denotes that implementing a marketing strategy based on the outlined factors will make the company under consideration to achieve efficiency in the penetration of the Chinese market. While developing a marketing strategy, it is important to have knowledge on the demand and supply of the products under consideration. One of the main aims of a marketing strategy is to create the demand of a product. Philips (2002) argues that it is important for business organization to carry out a research. The organization will then use this information to develop a marketing strategy that is aimed at increasing the demands of the organizations products. In conclusion, marketing concept and marketing orientation goes hand in hand. Marketing concept is the development of polices aimed at satisfying the various needs of customers, while marketing orientation is the implementation of those policies developed. It is important to denote that an organization which does not have an effective marketing plan cannot succeed in attracting customers. Aggressive marketing helps an organization to capture its customers, and hence ensure their loyalty. References: Arthur, C. (2012). Digital wars: Apple, Google, Microsoft and the battle for the Internet. London: Kogan Page. Boone, L. E. (2012). Contemporary marketing, 2013 update. s.l.: Cengage learning custom p. Brenkert, G. G. (2008). Marketing ethics. Malden, MA: Blackwell Pub.. Cadogan, J. (2009). Marketing Strategy. Los Angeles: Sage. Dibb, S., & Simkin, L. (2013). Marketing essentials (2nd ed.). Andover: Cengage Learning. Grewal, D., & Levy, M. (2010). Marketing (2nd ed.). Boston: McGraw-Hill Irwin. Keegan, W. J., & Green, M. C. (2013). Global marketing (7th ed.). Boston: Pearson. Kotler, P., & Armstrong, G. (2012). Principles of marketing (14th ed.). Boston: Pearson Prentice Hall. Kozmetsky, G. (2012). Global economic competition: todays warfare in global electronics industries and companies.. S.l.: Springer. Kumar, V., & Reinartz, W. J. (2012). Customer relationship management concept, strategy, and tools. Berlin: Springer. McDaniel, C. D., & Gates, R. H. (2013). Marketing research (9th ed.). Hoboken, N.J.: Wiley. Phillips, R. (2002). Concept marketing for communities: capitalizing on underutilized resources to generate growth and development. Westport, Conn.: Praeger. Ramachandra, K., & Chandrashekara, B. (2010). Marketing management (Rev. ed.). Mumbai [India: Himalaya Pub. House. Russell, E. (2010). The fundamentals of marketing. Lausanne: AVA Academia ;. Schindler, R. (2012). Pricing strategies: a marketing approach. Thousand Oaks, Calif.: Sage Publications, Inc. Read More