Market Concept Essay
Article from Karl Moore:
Karl Moore is PHd associate professor in the Faculty of Management at McGill University was responsible for writing the article “The Marketing Concept- RIP” which was published July 17th, 2006. He discusses the decline and the increasing irrelevance of the marketing concept idea and how firms are adapting this strategy in today’s market.
Moore emphasis on the following points:
1. Importance of market research before launching a product
2. The need to focus on the product’s usage by the end users
3. The difficulty firms face to implement the marketing concept strategy in today’s market place.
The author uses the example of the high-tech sector and explains why he feels the marketing concept applied in this way is no longer relevant, then goes into detail about how it is not just limited to the high-tech sector.
To understand Moore’s article you need to understand what marketing and the marketing concept it first. Marketing consists of individual and organizational activities that facilitate and expedite satisfying exchange relationships in a dynamic environment through the creation, distribution, promotion and pricing of goods, services and ideas. The main principles of marketing are to satisfy customers, target the “right’ customer, facilitate exchange relationships, stay ahead of competitors and enhance profitability (Crane, Kerin, Hartley, & Rudelius, 2008, p.7). The ultimate goal is to satisfy targeted customers, seeking their loyalty and consumption. The marketing concept can be defined as the philosophy that firms should analyze the needs of their customers and then make decisions to satisfy those needs, better than the competition (Crane, Kerin, Hartley, & Rudelius, 2008, p.17).
In his opening paragraph Moore mentions that the marketing concept is “coming to a close” and heading towards a “semi-retirement”. I strongly disagree with this statement. Why? Since the marketing concept era many companies are now
Karl Moore is PHd associate professor in the Faculty of Management at McGill University was responsible for writing the article “The Marketing Concept- RIP” which was published July 17th, 2006. He discusses the decline and the increasing irrelevance of the marketing concept idea and how firms are adapting this strategy in today’s market.
Moore emphasis on the following points:
1. Importance of market research before launching a product
2. The need to focus on the product’s usage by the end users
3. The difficulty firms face to implement the marketing concept strategy in today’s market place.
The author uses the example of the high-tech sector and explains why he feels the marketing concept applied in this way is no longer relevant, then goes into detail about how it is not just limited to the high-tech sector.
To understand Moore’s article you need to understand what marketing and the marketing concept it first. Marketing consists of individual and organizational activities that facilitate and expedite satisfying exchange relationships in a dynamic environment through the creation, distribution, promotion and pricing of goods, services and ideas. The main principles of marketing are to satisfy customers, target the “right’ customer, facilitate exchange relationships, stay ahead of competitors and enhance profitability (Crane, Kerin, Hartley, & Rudelius, 2008, p.7). The ultimate goal is to satisfy targeted customers, seeking their loyalty and consumption. The marketing concept can be defined as the philosophy that firms should analyze the needs of their customers and then make decisions to satisfy those needs, better than the competition (Crane, Kerin, Hartley, & Rudelius, 2008, p.17).
In his opening paragraph Moore mentions that the marketing concept is “coming to a close” and heading towards a “semi-retirement”. I strongly disagree with this statement. Why? Since the marketing concept era many companies are now