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The Marketing Concept
Transcript of The Marketing Concept
The marketing concept calls for identifying the customers and their needs first before any move is made.
When customers' needs and wants are identified the company has a greater chance of achieving its goals.
The Marketing Concept Versus Other Concepts
1. PRODUCT CONCEPT
2. SELLING CONCEPT
3. MARKETING CONCEPT
Companies adapting this concept attempts to find interesting buyer after producing the product.
The firm produces the product then adapts a selling strategy designed to convince group of perceived customers.
The firm defines its target market and determine the needs, wants and values of the market. The firm then adapts a strategy to satisfy those needs and wants more effectively and efficiently.
received relevant information
contact and sell
use info to
DEVELOPMENT OF MARKETING CONCEPT
-1930 to 1950
-1950 to 1960
-1960 to 1975
with social concern Era
1. What products or services are expected by the customers?
4 questions a firm needs to answer.
2. At what price are the customers willing to buy such products
or services they want?
3. At what place do they expect to find the products or services
4. What kind of promotion will likely persuade them to buy?
When Does Marketing Occur?
For marketing to occur, four factors are necessary:
1. the presence of at least two parties with unsatisfied needs;
2. the desire and ability of the parties to be satisfied;
3. the existence of a way for parties to communicate ;
4. each party has something to exchange ;
" I need
" We need
" I desire a
degree in Business"
" We really
" We can afford
" We offer a course in business at lower tuition fee "
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