Marketing Concept
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- Date Submitted: 03/15/2015 03:15 AM
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Marketing Concept.
The marketing concept is a philosophy. It makes the customer and the satisfaction of his or her needs the focal point of all business activities. It is driven by senior managers, passionate about delighting their customers.
The marketing concept arrived after a series of other orientations that marketing companies underwent during the 20th Century. Initially there was production orientation where a company focused upon the science of manufacturing. Then there was a product orientation where a business is not only focused on the production processes but also upon the quality and desirability of a particular product. Then marketing companies progressed to a selling or sales orientation whereby products will proactively sold based upon features rather than the benefits to the individual customer and his or her needs.
Production-orientated companies have four underlying assumptions.
* First, they believe that success at building a product that is superior to the competitions makes the company economically successful.
* Second, they believe they can sell any of their products so long as quality is sufficiently high.
* Third, they assume they can make a profit if they sell enough products.
* Last, they believe that customers can be expected to buy all the products they can produce if the price is fair.
Production-orientated companies include Ford Motor, Blackberry and McDonald's.
Marketing orientation and Sales orientation
A sales-oriented company is very internally focused and looks to sell products that the company is successful at making
A marketing-oriented firm looks to create customer value.
Customer Value
Customer value is the relationship between benefits and the sacrifice needed to obtain those benefits.
Elements of Customer Value
1. Companies should offer products that perform to the customer's satisfaction.
2. Next, a company must earn trust from their customers.
3. The third rule is...
The marketing concept is a philosophy. It makes the customer and the satisfaction of his or her needs the focal point of all business activities. It is driven by senior managers, passionate about delighting their customers.
The marketing concept arrived after a series of other orientations that marketing companies underwent during the 20th Century. Initially there was production orientation where a company focused upon the science of manufacturing. Then there was a product orientation where a business is not only focused on the production processes but also upon the quality and desirability of a particular product. Then marketing companies progressed to a selling or sales orientation whereby products will proactively sold based upon features rather than the benefits to the individual customer and his or her needs.
Production-orientated companies have four underlying assumptions.
* First, they believe that success at building a product that is superior to the competitions makes the company economically successful.
* Second, they believe they can sell any of their products so long as quality is sufficiently high.
* Third, they assume they can make a profit if they sell enough products.
* Last, they believe that customers can be expected to buy all the products they can produce if the price is fair.
Production-orientated companies include Ford Motor, Blackberry and McDonald's.
Marketing orientation and Sales orientation
A sales-oriented company is very internally focused and looks to sell products that the company is successful at making
A marketing-oriented firm looks to create customer value.
Customer Value
Customer value is the relationship between benefits and the sacrifice needed to obtain those benefits.
Elements of Customer Value
1. Companies should offer products that perform to the customer's satisfaction.
2. Next, a company must earn trust from their customers.
3. The third rule is...