Marketing Concept
Marketing concept
The marketing concept holds that the key to achieving organizational goals consists of the company being more effective than its competitors in creating, delivering, and communicating customer value to its chosen target markets.
The marketing concept rests on four pillars: target market, customer needs, integrated
Marketing and profitability.
. The selling concept takes an inside-out perspective. It starts with the factory, focuses on existing products, and calls for heavy selling and promoting to produce profitable sales.
The marketing concept takes an outside-in perspective. It starts with a well-defined market, focuses on customer needs, coordinates activities that affect customers, and produces profits by satisfying customers.
Instead of product-centred “ make and sell” philosophy, the Marketing Concept is customer-centered “ sense and respond” philosophy.
Target Maket- Consumer Needs- Integrated Marketing- Consumers’ Satisfaction TARGET MARKET
Companies do their best in choosing their target markets and then tailor their marketing programms.For example for woolen clothes, select the colder areas.
CUTOMER NEED
NEED
Needs can be described as human requirements. Need is there and its natural. We need food to satisfy our hunger, water to quench out thirst. Of course need can be more than just food, water and shelter. We need recreation, education, entertainment and lots of other things to sustain our living.
WANT
Need becomes Want, when they are directed towards a specific object. When hungry we need food; but we want say a burger. Want can vary from place to place and from people to people. A man in USA can want a burger to eat when hungry whereas a man in Pakistan needs a ‘Nan”. Want can be different at different income levels and in various times.
DEMAND
Want becomes a demand when backed up by an individual’s ability to pay for it. A hungry person can want a burger, but does he have money to demand a burger. Or is there a burger
The marketing concept holds that the key to achieving organizational goals consists of the company being more effective than its competitors in creating, delivering, and communicating customer value to its chosen target markets.
The marketing concept rests on four pillars: target market, customer needs, integrated
Marketing and profitability.
. The selling concept takes an inside-out perspective. It starts with the factory, focuses on existing products, and calls for heavy selling and promoting to produce profitable sales.
The marketing concept takes an outside-in perspective. It starts with a well-defined market, focuses on customer needs, coordinates activities that affect customers, and produces profits by satisfying customers.
Instead of product-centred “ make and sell” philosophy, the Marketing Concept is customer-centered “ sense and respond” philosophy.
Target Maket- Consumer Needs- Integrated Marketing- Consumers’ Satisfaction TARGET MARKET
Companies do their best in choosing their target markets and then tailor their marketing programms.For example for woolen clothes, select the colder areas.
CUTOMER NEED
NEED
Needs can be described as human requirements. Need is there and its natural. We need food to satisfy our hunger, water to quench out thirst. Of course need can be more than just food, water and shelter. We need recreation, education, entertainment and lots of other things to sustain our living.
WANT
Need becomes Want, when they are directed towards a specific object. When hungry we need food; but we want say a burger. Want can vary from place to place and from people to people. A man in USA can want a burger to eat when hungry whereas a man in Pakistan needs a ‘Nan”. Want can be different at different income levels and in various times.
DEMAND
Want becomes a demand when backed up by an individual’s ability to pay for it. A hungry person can want a burger, but does he have money to demand a burger. Or is there a burger