POSITIVES OF MARKETING CONCEPT OVER NEGATIVES OF TODAY’S MARKETING PRACTICES By Student’s Name
Marketing is one of the fields in business management. The field involves business organizations and their customers as the key players. Marketing involves an organization or a company identifying and anticipating their customer’s needs and satisfying them in a profitable way. Marketing is a broad field and it encompasses marketing concept and marketing practices. Marketing concept is a marketing philosophy that advocates for selling products or services that are benefit oriented instead of product oriented. Benefit oriented products and services seek to satisfy the needs of customers while product oriented ones focus on production needs of the company. For example, a perfume producing company may use the marketing concept to market their products where the company would advocate that it is in the business to sell dreams and romance. The company therefore, markets the benefits derived from the product rather than the perfume itself. On the other hand, marketing practices are activities that a business organization employs to oversee successful marketing of its products and services. Both marketing concept and marketing practices have their positives and negatives. This essay seeks to establish whether the positives of marketing concept outweigh the negatives of today’s marketing practice. Customer needs are known to be ever changing due to changes in their taste and preferences over products and availability of disposable incomes. Marketing concept therefore, focuses on the needs of the customers which are incorporated in development of products and aligns the company functions to focus on the customer needs to achieve the ultimate goal of profitably satisfying the customer needs (Yapp). This concept has several positives such as long-term success, enables organizations to capitalize opportunities, proper customer consideration, facilitates product planning and development, integrated approach, promotes effective utilization of resources and fosters research and information gathering (Kumar& Sharma1998). Marketing concept promotes long-term success of an organization. Long- term success of an organization is the continued domination of the firm in the marketing field. The firm enjoys stable sales volumes. This success is attributed to the company’s recognition of the customer’s needs. Application of the concept by the organization enables the company to focus its attention to the various needs of the customers. The company is also able to keep abreast the changing needs of its customers. This is crucial as it enables the firm to produce goods and services that satisfy the needs of its customers. Consequently, the customers respond by purchasing more of the organization’s products and services over those of other competitors. Customers also develop loyalty towards the organization which is crucial for the organization’s future success. High sales volume translates to high returns to the organization which coupled with customer loyalty, contributes to the organization’s long-term success. An organization is able to capitalize its opportunities by adopting the marketing concept. The speed at which an organization responds to available opportunities determines the success of an organization. Organizations that quickly respond to available market opportunities are able to reap the benefits of the opportunity before other competitors exploit it. Marketing concept focuses an organization’s attention to its customers’ needs and hence, the organization is able to observe any opportunities manifested through the changing customer needs. For example, a cellphone producing company, through its research on customer needs, may realize that customers prefer having more than one service providers. The company then exploits this opportunity by producing dual-sim handsets instead of the usual single...
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