Define marketing concept Assignment

Define marketing concept Assignment Words: 1244

Marketing oriented companies focus on customer needs and get close to their customers so that they understand their needs and problems. In the past, the Traditional Marketing Concept was achieved their profit and other objectives by satisfying customers but it neglects the competition. But now, the Modern Marketing Concept it achieve the corporate goals through meeting and exceeding customer needs and expectations better than the competition. And this is implemented by The Key Components of the Marketing Concept which are: 1 .

Customer Orientation- corporate actively are focused upon providing customer satisfaction. 2. Integrated Effort- All staffs accept the responsibility for creating customer satisfaction. 3. Goal Achievement – The belief that corporate goals can be achieved through customer satisfaction. Example: -Nestle?? and Blend. -German machine tool manufacturesјmarket-oriented but UK machine tool unpredictability’s-relented. Toyota story: Its success Is depending on two fundamentally different philosophies. In the beginning, it start by achievement of short-term sales targets and focused on selling low-cost Japanese-designed cars.

Don’t waste your time!
Order your assignment!

order now

After that, it considered the strategy unsustainable as low-price competitors began to match its offer, resulting in lower profit margins. Therefore, it moved from the aggressive selling of cars to understanding what the Toyota brand meant to customers and how the company could better meet their needs by changing Its philosophy to market-oriented business: 1 . Market research budget was Increased by a factor four. 2. Ensure that the new models were aligned European-designed. Example- Yards. 3. Expenditure was moved from tactical incentives to media advertising. 4. Improved the services provided for its customers. Enhanced the customers’ communication channels by a revamped website, customer magazine, customer experience surveys and Toyota Club for premium customers To conclude, the essential characteristics of marketing-oriented company are: Customer concern throughout business Knowledge of customer choice criteria enables matching with marketing mix Segment by customer differences Invest in market research (MR.) and track market changes Welcome change Marketing spend regarded as an investment Innovation rewarded Search for latent markets Being fast Strive for competitive advantage Efficient and effective 2.

Are there any situations where marketing orientation is not the most appropriate business philosophy? Academics have raised few situations where marketing orientation is questionable regarding their values and limitations which make it inappropriate business philosophy to be implemented.

The marketing concept as an ideology For solution of this situation, Marketers’ attention should focus not only on propagation of the ideology but also on its integration with the demands of other core business functions in order to achieve a compromise between the satisfaction of consumers and the achievement of other company requirements. Marketing and society The adoption of the marketing concept will result in the production of goods and services that do not adequately correspond to the societal welfare.

Examples of the challenge of societal concern which lead companies to respond to by various ways: Obesity Crisis-food reformulation [health concern] and reduce energy consumption- Busch company [environmental concern] Marketing as a constraint on innovation If the marketing depend solely on the customer for new product ideas it will be a constraint on innovation but the modern marketing concept does not suggest that impasses must depend solely on the customer for new product ideas; rather the concept implies that new product development should be based on sound interfacing between perceived customer needs and technological research.

Marketing as a source of dullness The focus on analysis customers and development offerings that reflects their needs marketplace stagnation. Therefore, Marketing should create demand rather than reflect demand. I. E. Initiative active process and not imitative passive process. Marketing and Ethical Dilemmas in different international cultures Ethical principles reflect the cultural values and norms of society. The increase in globalization has resulted in exposure to other cultural values and norms, which can result in ethical conflict and dilemma.

Therefore, marketing concept should be manipulated according to Ethics and different culture issues I. E. Marketing concept accepted in some cultures may be not accepted in other cultures. [Shock or controversial advertising has become more commonplace in recent years] which may cause offence or distress to children. In addition, a company can use marketing to bar new companies from entering an industry. For example, large companies can use patents and heavy promotion pending, and can tie up suppliers or dealers to keep out or drive out competitors.

Finally, companies can use unfair competitive marketing practices with the intention of hurting or destroying other firms. 3. Explain how the desire to become efficient may conflict with being effective. Efficiency is means does things right-produces goods economically to achieving high profit margins. In respect of the customers’ benefits Effectiveness is means doing the right things-making products that consumers want to buy. Examples of these combinations on the company’s business: Ineffective- Inefficient

Goes out of business quickly Ineffective- Efficient – Dies slowly [KODAK] Effective- Inefficient survives Effective- Efficient Does well thrives The essential difference between efficiency and effectiveness is that the former is cost focused while the latter is customer focused. An effective company has the ability to attract and retain customers. The conflict comes when company wont to does things right [efficient- cost focused-economically] to achieved high profit margins in the same time wont doing the right things [ effective-customer focused] to attract and retain customers and that may be costly.

I think to simplify this conflict; many should do the things right in the light of the customers’ needs. For example Toyota and Ezra 4. To what extent do you agree with the criticisms of the marketing concept and the 4-As approach to marketing decision-making? The gold become more pure when put in fire. Also, market concept should be criticized to be effective. I see that marketing concept is criticized through different levels which are Bias criticism, extreme unfair criticism and Fair criticism.

Bias criticism: some people blame the marketing concept extensively and other does not blame the marketing concept at all and Justified each criticism. Extreme unfair criticism: people that define marketing concept as Evil and Hidden enemy. Http://www. Youth. Com/watch? Criticism Posted on 24 December 2012 by Peter Proves We are surrounded by marketing messages almost every second of the day. Some estimates claim that we are exposed to about 2,000 marketing messages every day. 1 .

From reading the name of a brand on a cereal box or somebody t-shirt to advertising in magazines and on television and everything in between??branded messages are ubiquitous. Marketing has an enormous influence on contemporary culture which has spawned a lot of criticism, such as expressed in this video. But is racketing inherently evil? Marketing is the hidden enemy The producer of this video certainly seems to think so. He even sees marketing as the “hidden enemy’, although he is not so clear what it is the enemy of.

He is certainly correct in saying that McDonald’s pairs the positive values of a clown to their hamburgers??this is one of the basic principles of consumer behavior??he forgets, however, that people are not like rats in a maze that can be controlled by simple messages. Fair criticism: people that fairly define the defects and disadvantages of the marketing concept plus adding solutions for these drawbacks. And I see myself is along this group of people. The marketers and customers are mutually blamed concerning implementation and uncontrolled customer behaviors towards marketing.

How to cite this assignment

Choose cite format:
Define marketing concept Assignment. (2020, Oct 26). Retrieved August 9, 2022, from