The Fundamental Concepts Of Marketing assignment

The Fundamental Concepts Of Marketing assignment Words: 808

Many organizations recognize marketing as an important part of the company. A sharp increase of appointing Chief Marketing Officers is happening they rank the name management level as Executive Officers and Chief Financial Officers. The objective of a COM is to insure that products meet the demand of customers and to build a long standing relationship with those customers. This paper will explore five market concepts of an organization.

Keywords: five market concepts, marketing, marketing mix, Chief Marketing Officers Five Marketing Concepts The Production Concept The production concept is one of the most dominate concepts of marketing though out manufacturing and distribution history and up to the early twentieth century. The product concept is based upon an idea that consumers desire products that are widely available and cheap to buy. Production managers focus on high production proficiency, lowering cost and distributing.

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Organizations strive to manufacture products that improve the demand and customer relationship. Henry Ford used this concept in mass producing his automobiles by using assembly lines. Product Concept Product concept involves the design and manufacture of products, services and ideas to meet the demand of their customers. Product refers to physical product and revives provided by the business to its customer. The concept proposes that customers will prefer products odd higher quality, performance and features compared to similar products. The Apple and Google companies have strives hard on their products and deliver us feature rich, innovative and diverse application products and people Just love these brands” (Whites Basin, 2010). The Selling Is a concept considered when customers will not buy enough of an organization’s products unless they are persuaded to do so through the selling efforts. So organizations undertake selling and promotion of their products for marketing success. Many used car lots salesmen use this concept catering to and beyond customer needs.

Adam Smith’s publication of The Wealth of Nations in 1776 brought economics into the modern era. Smith wrote that the need of producers should only be considered only with the regard to meeting the need of consumers. This philosophy was not adopted widely until about two hundred years later. The marketing Concept Emerging in the sass’s the marketing concept emerged as a customer centered hilltop’s. An organization would research and study the needs of consumers and make decisions to fulfill those needs, trying to stay ahead of the competition.

After World War II, consumers had an increased flexible income, and they could afford to be selective about the products that meet their needs, with the crucial questions being: What do consumers want? Can it be developed while consumers still want it? How can we keep our customers satisfied? Organizations developed a marketing concept that answered these questions. By sousing on consumer needs before the product development, Alignment of all organizational functions and making a profit while satisfying consumers over the long term.

McDonald’s is one of the best known brands worldwide, they aim to build their products by listening to their customers. The Holistic Marketing Concept In order to develop a marketing plan for the Coca Cola, the organization analysis is carried out using different marketing models such as customer analysis, company analysis and competitor analysis. Moreover, the strengths and weaknesses have been mound of the company in the industry by comparing it with its competitors in the market.

Holistic marketing is probably the newest concept in marketing, it is based on development, design, and implementation of marketing programs, processes, and activities that recognize their scope and interdependent of their organization. Four main components of holistic marketing are: relationship marketing – integrated marketing – internal marketing – and performance marketing. Relationship marketing builds a Jointly trusting and long term relationship with customers. A sales database s maintained with customer profiles, sales patterns, and sales contact history.

Integrated Marketing aims to unit all the different marketing methods with an objective to complement and reinforce each method. Internal Marketing Promotes the organization and its policies to employees so it empowers them to want to provide great customer service also the hiring and training is done at this level. Performance Marketing marketers are required to have work knowledge of financial and non-financial returns, a financial accountability links contributions to financial reference, and assert the value it contributes to the organization.

Marketers have a social responsibility to clearly identify themselves as responsible and treatable. Marketing is a process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and services to create exchanges that satisfy consumers and organizational goals. The classical marketing approach involving four broad steps: market analysis, market planning, implementation, and control that is essential to the success of the organization. References Albanians, H. N. D. ). Concepts of Marketing.