Marketing Concepts MAR110 Study Period 4‚ 2010 SWINBURNE UNIVERSITY OF TECHNOLOGY Research Report “Marketing’s really just selling with a posh name! What’s all this about a Marketing Concept?” EXECUTIVE SUMMARY This research report aims to depict if there is any truth to the statement “Marketing is just selling with a posh name...” it also aims to illustrate the marketing concept‚ which refers to the second half of the statement “ .....What’s all this about the marketing concept”
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Simply stated‚ the marketing concept means that an organization should seek to make a profit by serving the needs of customer groups. The concept is very straightforward and has a great deal of commonsense validity. Perhaps this is why it is often misunderstood‚ forgotten‚ or overlooked. The purpose of the marketing concept is to rivet the attention of marketing managers on serving broad classes of customer needs (customer orientation)‚ rather than on the firm’s current products (production
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The Marketing Concept When one thinks about marketing‚ many different things come into mind; however‚ the actual definition of Marketing Concept is: “identifying consumer needs and then producing the goods or services that will satisfy them while making a profit for the organization.” (Gitman & McDaniel‚ 2008) Basically‚ the marketing concept comes down to being able to offer the consumers something that they find valuable. Value is the key term that comes into play. The marketing concept
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1- Consumer Behaviour. One of the most challenging concept in marketing deals with understanding why consumers behave in a certain way or do what they do (or don’t do). Two major psychological concepts are often used to explain and understand the consumer’s behaviour. The first is the so called in psychology the cognitive psychology in which the focus of the study is the mental behaviour i.e. the internal influence such as perception‚ memory‚ attention‚ attitude‚ beliefs‚ values‚ personality
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CORPORATE MANAGEMENT NAME: CAROLINE WANGUI NJOROGE REG NO.: 13/00560 UNIT: MARKETING MANAGEMENT ASSIGNMENT 1 DUE DATE: FEBRUARY 11TH‚ 2013 TRIMESTER 1 YEAR 1 Question: Explain the marketing concept and its importance to an organization making particular reference to developing relationships with customers. Use an organization familiar to you for illustration. The Marketing concept is concerned with first identifying the consumer needs and then making products that give
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Marketing Concepts In your own words‚ define the following marketing concepts and provide a relevant real world example to accompany each definition. Concept Definition Example Need what a person is thinking and feeling and what motivates them to satisfy that need. A person can be satisfied by wearing a fashionable coat‚ which meets their needs and wants of looking great and staying warm. Benefit motivating a consumer to buy a product that satisfies them in more than one way. A
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The marketing concept is a managerial philosophy that an organization should try to satisfy customers’ needs through a coordinated set of activities that also allows the organization to achieve its goals. The marketing concept strives to satisfy customers by determining what buyers want and then by using that information. Businesses also have to alter‚ adapt‚ and develop new products to continue earnings profits. By being customer oriented‚ objectives of a business‚ such as‚ increasing profits
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STYLE GUIDELINES FOR LILYDALE MARKETING UNITS (including PRESENTATION REQUIREMENTS AND HINTS) All marketing units taught at Swinburne’s Lilydale campus place great emphasis on the development of written and oral communications skills. These communications and presentation skills are regarded as essential by prospective employers. Besides‚ marketing is basically all about communication - if you cannot communicate effectively‚ you cannot market successfully!). This section sets out style guidelines
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Holistic marketing concept is based on development‚ design‚ and implementation of marketing programs‚ processes‚ and activities that recognize their breadth and interdependencies. Holistic marketing recognizes that "everything matters" with marketing and that a broad‚ integrated perspective is necessary to attain the best solution Four main compnents of holistic marketing are: relationship marketing - integrated marketing - internal marketing - and socially responsible marketing. 1. Relationship
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Working at McDonald’s is an article that emphasizes how irrelevant working in high school is on the scale of importance in life. Amitai Etzioni points out that teenagers are distracted by repetitive jobs when they should be focusing on their education. Etzioni makes his argument about teenage jobs undermining school attendance and involvement‚ imparting few skills that will be useful later on in life‚ and skewing the values of teenagers especially their ideas about the worth of a dollar. McDonald’s
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