Marketing Concept

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Topics: Marketing, Bank
KCA UNIVERSITY – MBA CORPORATE MANAGEMENT

NAME: CAROLINE WANGUI NJOROGE

REG NO.: 13/00560

UNIT: MARKETING MANAGEMENT ASSIGNMENT 1

DUE DATE: FEBRUARY 11TH, 2013

TRIMESTER 1 YEAR 1

Question: Explain the marketing concept and its importance to an organization making particular reference to developing relationships with customers. Use an organization familiar to you for illustration.
The Marketing concept is concerned with first identifying the consumer needs and then making products that give maximum customer satisfaction. According to Jobber David (Principles and Practice of Marketing, 2010) in order to achieve organizational goals it all depends on determining the needs and wants of the target markets and delivering satisfaction more effectively and efficiently than the competition and getting optimal profits through customer satisfaction.
Marketing begins before the product, service or solution is ready .The firm aims to make products and provide services better than the competitor. Consequently, the company makes sincere efforts towards retaining the customers and also attracting new ones.
If the customers are satisfied with the product, they will buy it again and again and tell other people about it which in turn will attract new customers in the process. If the product proves to be better than what they had expected, the consumers will be really impressed and this will be very beneficial in the long run for the firm and will gain good customer loyalty. For this reason the firm should always focus on the customer centered approach thus making profits through customer satisfaction.
The Marketing concept is the most famous and popular concept. It’s different from mere selling because in the selling concept the firm focuses on selling whatever it has produced. On the other hand in the marketing concept before doing production, you assess the need and desire of the customer and then make a product to suit the needs of the



References: Armstrong G. & Kotler P. (2000). Marketing- An Introduction- Prentice Hall, Upper Saddle NJ Kotler P. Armstrong G. (2006). Principles of Marketing Jobber D. (2010) Principles of Marketing www.farewell-consultants.com -A Tale of two success stories www.superbrandseastafrica.com/wp-content - Super Brands – www.equitybank.co.ke -Equity Our History

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