Marketing

Marjeting Concepts

1. What is marketing? What is the marketing fancy and discuss its evolution. How does the marketing purpose differ from the production and sales concepts? What are the conditions that must outlast before an exchange can take place? severalize the variables of the marketing mix and how they interact.

(i) Marketing: Marketing is the systematic make for of identifying and anticipating the needs of actual or prospective customers for raw materials and consumer goods and services, speech them to an optimal appreciation of these needs, and satisfying these needs profitably. Marketing begins with the assignment of the (current or potential) needs of consumers, through close comprehensive survey, and ends with the paying(a) satisfaction of them.

(ii) The Marketing concept: The marketing concept is the philosophy that recommends identifying, analysing and satisfying consumer needs better than competitors (The Marketing Concept 2006). The marketing concept evolved from three preceding concepts: The product concept, the production concept and the selling concept (Robert D.).

The product concept, a principle that encourages excellency in production and services in the belief that consumers deliver an appreciation of excellence, emphasizes product quality and/or performance, and assumes that at least some consumers are knowledgeable enough to recognize and discover superior attributes in these areas. (ibid).



Thus, once manufacturers come up with an thought for a new brand of a product which they try is excellent, they go ahead to produce them in wholesale quantities, accept that consumers will readily see and appreciate the value they link to the brand. There is obviously a certain element of high-handedness in this concept which makes the manufacturers set the standards of excellence irrespective of the tastes of the consumers.

This concept in brief lost popularity and gave way to the production concept which places premium on quantity and affordability of goods...

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