Marketing Concept And Definition. The focus of the selling philosophy is the needs and requirements of sellers and finding out different selling methods and techniques for converting products into liquid cash. The marketing concept involves identifying consumer needs and wants and then producing products which can be goods services or ideas that will satisfy them while making a profit.
Marketing - Definition Importance Concepts Marketing Management Tasks 1. The marketing concept is the most followed ideology by top companies. A marketing concept is a philosophy that encourages companies to develop products based on the markets needs and preferences.
In the words of William Stanton Marketing is a total system of interacting business activities- designed to plan price promote and distribute want-satisfying products and.
Applying the marketing concept also means knowing what the market needs and expects from the company as a result of which companies which apply the marketing concept need to carry out more of market research. A marketing concept is a philosophy that encourages companies to develop products based on the markets needs and preferences. This definition no doubt attempts to combine the modern marketing concept with the traditional view of marketing but it is not truly a managerial definition. The focus of the marketing concept is on the customers or buyers and finding out ways to produce such a product that would satisfy the needs and wants of customers.
