Marketing concept and process Assignment
In this assignment I will be explaining the general definitions of marketing and the concept and process of marketing. Marketing can be define in many different ways but all of them have the same point, Marketing is the process by which companies determine what products or services may be of interest to customers, and the strategy to use in sales, communications and business development. It generates the strategy that underlies sales techniques, business communication, and business developments. It is an integrated process through which companies build strong customer relationship and create value for their customers and for themselves. (www.wikipedia.org) Marketing is based on identifying,anticipating and satisfying customer needs effectively and profitably. The customer focused philosophy is know as the marketing concept, it holds that achieving organizational goals depends on determining the needs and wants of target markets and making the decision to satisfy customers needs and desires by offering better product and services than the computation. what do customers want?can we develop it while they still want it?how can we keep our customers satisfied. in response to these, firms began to adapt the marketing concept, which involves, focusing on customers needs before developing the product, adjusting all function of the company to focus on those needs and getting a profit by successfully satisfying the customers needs over the long term. The marketing concept relies up on marketing research to define market segments, their size and their needs. To satisfied those needs, the marketing team makes a decision about the marketing mix. The marketing mix well known as 4P's ,Product, Price, Place, Promotion on target market. Since the first introduction of the 4P's, additional three P's was added people, process and physical evidence (the extended marketing mix). The concept is simple. Think about another...
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