Marketing Concept Definition. The marketing concept is the use of marketing data to focus on the needs and wants of customers in order to develop marketing strategies that not only satisfy the needs of the customers but also the accomplish the goals of the organization. Kotler 1 defined market as A set of all actual and potential buyers of a product This definition implies that wherever there is a buyer of a product or service there is a market.
The marketing concept proposes that the success of the firm depends on the marketing efforts of the company and in delivering a better value proposition as compared to its competitors in its own target market. The marketing concept emphasizes the need for a business to adopt a CONSUMER ORIENTATION that is to start by identifying the needs of consumers and then develop products with the attributes and characteristics to meet these needs. 11 Definition of Marketing 111 Market The concept of market has undergone significant changes over the years commensurate with the changes in the structure and scope of markets.
Types of Marketing Concepts There.
The idea that a company should supply a product or service based on what customers want and need. The marketing concept emphasizes the need for a business to adopt a CONSUMER ORIENTATION that is to start by identifying the needs of consumers and then develop products with the attributes and characteristics to meet these needs. Marketing concept a business philosophy which aims at the generation of profits by the recognition and satisfaction of customer needs. A marketing concept is a philosophy that encourages companies to develop products based on the markets needs and preferences.
