StudentShare
Contact Us
Sign In / Sign Up for FREE
Search
Go to advanced search...
Nobody downloaded yet

The Marketing Concept is the Best Concept for Todays Organisations to Practise - Term Paper Example

Comments (0) Cite this document
Summary
"Marketing Concept is the Best Concept for Today’s Organisations to Practise" paper proves that the marketing concept is the best concept for organizations to practice by discussing one by one the importance of using a concept of marketing in terms of making a company survive the tight competition. …
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER96.1% of users find it useful
The Marketing Concept is the Best Concept for Todays Organisations to Practise
Read TextPreview

Extract of sample "The Marketing Concept is the Best Concept for Todays Organisations to Practise"

Download file to see previous pages The concept of marketing functions basically in order to meet the specific needs and wants of the company’s target market. Since the business buyers and consumers, in general, have different preferences in terms of the product quality, prices, and services offered to them by the supplier, a single marketing concept is insufficient to meet the demands of the majority of the consumers. For many years, different marketing concepts have been developed in order to enable a company to have a better way of increasing its profitability and market shares. 

Sales and profitability are the heart of each business. Considering that all humans have specific needs and want, the study of marketing is focused on enabling a company to address these concerns. Different products could satisfy a specific need. However, consumer product preferences are usually guided by marketing concepts like value, cost, customer(s) satisfaction, a market distribution that are not being considered in the study of production and finance.

It is wrong to believe that the study of marketing is focused only on selling and advertising. The study of marketing is a very broad subject that aims to improve the company’s financial performance not only through selling and advertisements but also in finding ways to develop and establish a good relationship with the target customers.

According to Kotler and Armstrong (1997: 52), McCarthy and Perreault (1993: 46), and Stanton, Etzel, and Walker (1991: 13), traditional marketing mix which focus on analyzing the 4 P’s: price, product, promotion (marketing communication), and place (distribution) is used in managing uncontrollable and constantly changing marketing environment. By studying the company’s competitiveness in terms of price, product, promotion, and place including its specific constraints, the marketing manager will have a better idea of how to address the basic marketing concerns in order to satisfy the needs and wants of the company’s target market.  ...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
  • CHICAGO
(The Marketing Concept is the Best Concept for Todays Organisations to Term Paper - 2, n.d.)
The Marketing Concept is the Best Concept for Todays Organisations to Term Paper - 2. https://studentshare.org/marketing/1708915-marketing-management
(The Marketing Concept Is the Best Concept for Todays Organisations to Term Paper - 2)
The Marketing Concept Is the Best Concept for Todays Organisations to Term Paper - 2. https://studentshare.org/marketing/1708915-marketing-management.
“The Marketing Concept Is the Best Concept for Todays Organisations to Term Paper - 2”. https://studentshare.org/marketing/1708915-marketing-management.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document

CHECK THESE SAMPLES OF The Marketing Concept is the Best Concept for Todays Organisations to Practise

Marketing concept

...?Marketing Concept Marketing is defined as the art of selling products and/or services through the effective usage of persuasion, psychology and repetition. Marketing employs a number of practices which are regarded as its sub-fields namely advertising, sales promotion activities, personal selling, public relations (or publicity) and direct mailing to name a few. With the passage of time, the definition of marketing has changed as it has included a pre-manufacture tilt to its basis with regards to a product and/or service. The marketing concept revolves around the premise that marketing shall bring in success if products and/or services are made available in a quantifiable manner to the target audiences. This means they should be given...
2 Pages(500 words)Essay

Marketing Concept

... Standard life. Introduction. The sole purpose of any business organization is the maximization of profits. However, the art of money making has evolved over time. This has called for the upholding of ethics, in terms of the products that they provide their consumers. This calls the need for the marketing concept. It ensures that the decisions of a firm are not only profit oriented. They take care of the spoken and unspoken interests of the customer. This forms the main basis of this essay. It explains the importance of this marketing concept in the promotion of business and satisfaction of customer needs. Description of the marketing concept. Marketing concepts refer to the philosophy of the management, through which the objectives...
7 Pages(1750 words)Essay

IKEA marketing concept

The consumer lacks consideration, but the cost of production is considered. It is favorable for goods sold to highly sophisticated customers. (Hilstrich 2000 page 12).
The benefits of value-based pricing are the ability to set prices that are likely to attract buyers because of the market consideration. The major challenge for this approach is the extensive need of advertisement to sell the brand name to customers for them to accept its benefits. The profit margin is also extremely low, and it is not easily accounted for entirely. It can also alienate some customers who purchase based on pricing. (Hilstrich 2000 page 24). Cost based pricing benefits ranges from the high profit margins by goal setting by the company. The gre...
8 Pages(2000 words)Essay

Concept Paper Template and Concept Paper Best Practices:

...?Concept Paper Template and Concept Paper Best Practices Introduction Concept papers are brief explanations of projects with the view of determining the effectiveness of a research or project proposal. The papers succeed in doing this by analyzing different aspects of the research or the project with the view of determining their cost effectiveness in achieving the goals of the same. They have an elaborate introduction in which they describe the project and provide an intricate background to the projects thus developing adequate information to aid understanding of the project or research. Among the most fundamental sections of a concept, paper is the methodology section. The methodology section analyses the method of the research one...
3 Pages(750 words)Research Paper

Marketing Concept

...Running Head: MARKETING CONCEPT Marketing Concept in Harvard Style by A. Comparisons of alternative definitions of marketing The definition of marketing varies from organization to organization. The Chartered Institute of Marketing (CIM) defined marketing as the "management process responsible for identifying, anticipating, and satisfying customer requirements profitably." This is a very broad definition of marketing. It highlights three important aspects that marketing accomplishes. First, it recognizes the purpose of business organizations to design products which satisfy customer requirements. Marketing does not just involve offering any goods and services but business organizations should strive to offer those which offer customer...
3 Pages(750 words)Essay

Marketing concept

Pricing Strategies Marketing strategies are evaluated and adopted based on the pricing model of the firm. Formulation and implementation of marketing strategies highly rely on price. Pricing strategies therefore directly influence marketing strategies. By setting a given level of price, a company aims at achieving specific goals and objectives. However, pricing strategies are not necessarily mutually exclusive (Drummond & Ensor 163). Each single pricing strategy adopted by a given firm or company is directly linked to a marketing strategy. In this regard, consistency is a fundamental factor that the company should put into consideration in dealing with pricing and marketing strategies. Distributional and promotional aspects should...
2 Pages(500 words)Essay

Explain a Marketing Concept

...Peter Drucker rightly said that the true marketer focuses on s’ needs and profits follow on its own when one meets s needs better than their competitors. The crux of marketing lies in understanding this basic philosophy. Accordingly, this paper aims to focus on one of the concept called new product offerings by understanding customer needs. Right product offering creates new demands from the customers. For that one needs to focus not on existing wants of the customers but it becomes important to understand the underlying needs of the customers. Customers often do not and cannot describe their needs precisely and it is a marketers job to find out the same. Gillette has been in the business of safety razors ever since 1904. It has been...
1 Pages(250 words)Essay

Organisations and System Concept

...Organisations and System Concept Question one Differentiate the open approach to organisations with the common-sense approach? Question two List and explain some of the special characteristics of open systems? Question three Explain the two basic criteria that are used in the identification of social systems and their accompanying functions? Question four Why is the steady state and dynamic homeostasis an essential characteristic of open systems? Question five There are numerous consequences of viewing organisations as open systems. Name any of the three consequences? Self-evaluation In my view, my question asking criteria is sequential since it portrays the progress of knowledge according to the article. For instance, the basic...
1 Pages(250 words)Essay

Marketing concept and marketing orientation

...The Marketing Concept and Marketing Orientation The Marketing Concept and Marketing Orientation The Marketing Concept The marketingconcept contends that for an organisation to realize its goals, it has to rely on the needs and wants of its customers, as well as providing the wanted fulfilment better than rival organisations (Taghian, 2010). Marketing orientation evolved to strengthen the marketing concept where an organisation fulfils consumer needs and wants through value. What Marketing Orientation Means for an Organisation For an organisation to have a marketing orientation, it means it has concentrate on delivering goods that meet the needs and wants of the target market (Almquist, 2014). This is pivotal for a market-oriented...
4 Pages(1000 words)Essay

Marketing concept

... Electronics. It will then examine why Beats Electronics used this particular concept and the extent to which it has been forced to accommodate changing trends in consumer trends and the resources that were deployed in marketing this concept and finally the analysis will consider how this concept enabled the firm to enhance on its business performance. Using theory to explain the nature of Customer Value Creation Increasingly, firms are placing more emphasis on retaining their customers and often it takes a significant amount of effort, time as well as money in both attracting a new customer. Creating long term customers are seen as most beneficial (Gronroos & Voima, 2011). Relationship marketing is one of the theories which can be used...
4 Pages(1000 words)Assignment
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.

Let us find you another Term Paper on topic The Marketing Concept is the Best Concept for Todays Organisations to Practise for FREE!

Contact Us