The objective of marketing is to promote a business's product or service in a specific area with the aim of establishing enduring connections with consumers and boosting overall earnings. The strategy prioritizes maintaining current customers over obtaining new ones.
The role of marketing is crucial for businesses to achieve success by understanding their customers and market. The selling concept is a marketing orientation that focuses on aggressively selling products through extensive promotion and advertising efforts, regardless of market demand. This approach is typically employed by organizations experiencing overcapacity.
The product and production concept refer to two approaches to creating and selling products. The product concept focuses on performance and quality, with the company striving for continuous improvement and innovation. However, this approach may face challenges when competitors offer substitute products that are more desirable to consumers (such as digital cameras replacing film ca
...meras). The production concept, on the other hand, emphasizes efficient production and lower prices to make the products more accessible to customers.
The company focuses on mass production and improving distribution channels, especially when demand exceeds supply. The Marketing concept involves recognizing consumer needs and creating products that optimize customer satisfaction, starting from the pre-development stage and extending past the sale.
The company aims to excel in product quality and service provision, with a focus on retaining current customers and attracting new ones. The desired results include repeat purchases and positive word-of-mouth recommendations from satisfied customers, which can provide significant long-term benefits for the business.
One example of good customer loyalty is when a company prioritizes a customer-centered approach and achieves profitability by ensuring customer satisfaction.
Both Dell and Wal-mart have achieved remarkable success by applying the Marketin
concept. However, the Societal concept is considered to be the most effective marketing approach as it emphasizes the well-being, interests, and welfare of society. The Societal concept prioritizes consumer demands and satisfaction, profits, and social welfare in order to improve the company's reputation. This means that businesses are now concerned with various social issues such as environmental concerns related to waste material and health problems caused by fast food.
- Advertising essays
- Audience Theory essays
- Competitor Analysis essays
- Consumer essays
- Marketing Management essays
- Marketing Mix essays
- Marketing Plan essays
- Marketing Research essays
- Marketing Strategy essays
- Point Of Sale essays
- Price essays
- Procurement essays
- Product essays
- Product Differentiation essays
- Promotion essays
- Promotion And Marketing Communications essays
- Retailing essays
- Trademark essays
- Anheuser-busch essays
- Brands essays
- Detergent essays
- Product Placement essays
- Research Design essays
- New Product Development essays
- Advertisement essays
- Brand essays
- Sales Promotion essays
- Advertising campaign essays
- Consumer behaviour essays
- Offer And Acceptance essays
- Wal-Mart essays
- Discover essays
- Customer essays
- Customer Satisfaction essays
- Customer Service essays
- Target Market essays
- Accounting essays
- Andrew Carnegie essays
- Automation essays
- Business Cycle essays
- Business Intelligence essays
- Business Model essays
- Business Operations essays
- Business Software essays
- Cooperation essays
- Cooperative essays
- Corporate Social Responsibility essays
- Corporation essays
- Customer Relationship Management essays
- Family Business essays
