The Marketing Concept
When one thinks about marketing, many different things come into mind; however, the actual definition of Marketing Concept is: “identifying consumer needs and then producing the goods or services that will satisfy them while making a profit for the organization.” (Gitman & McDaniel, 2008)
Basically, the marketing concept comes down to being able to offer the consumers something that they find valuable. Value is the key term that comes into play. The marketing concept consists of:
1. “Focusing on customer wants so the organization can distinguish its production from competitor’s offerings.” (Gitman & McDaniel, 2008)
2. “Integrating all of the organization’s activities, including production, to satisfy these wants.” (Gitman & McDaniel, 2008)
3. “Achieving long-term goals for the organization by satisfying customer wants and needs legally and responsibily.” (Gitman & McDaniel, 2008)
Many businesses from around the globe have already started to take advantage of this concept. From Disney’s Fast Pass to Enterprise Rent-A-Car, companies are adjusting their old business models and techniques in order to accommodate the needs and desires of their customers. This has enabled them to step above the competition and to set themselves apart from others in their industry.
The marketing concept focuses on the above mentioned items for a reason, in order to increase the businesses’ bottom line and to satisfy their current customer bases, while drawing new customers because of their exceptional customer service model.
Gitman, L.J., McDaniel, C. (2008) The Future of Business: The Essentials; South-Western, Cengage Learning; Ohio.
References: Gitman, L.J., McDaniel, C. (2008) The Future of Business: The Essentials; South-Western, Cengage Learning; Ohio.
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