Marketing Concept

MARKETING CONCEPT-It is a management process it’s about identifying who ur customers really are, anticipating what the customers wants from you as a business, be that a product or a service, satisfying the customer’s needs in a comfortable manner. It is important to highlight that it is necessary to satisfy the customers while still making a profit. E.g. a computer company providing laptops and tablets, should start by finding whether people would prefer to have a laptop that by taking out the screen would be a tablet, or just a laptop itself. If the consumers would prefer the first option, even though its more expensive to manufacture, the company should consider to provide them. They could charge a bit more and still would satisfy the customer’s needs by putting in the mkt. if it is not launched there is a risk of consumers buying in other companies. If a business accepts the market concept it will have to change the way it works and the structure of its department.it may need a department of mkt research to find out what customer wants. It will also need to maintain continuous contact with the mkt. . ¬CONSUMER RESEARCH is the study of the relationship between the personality of t consumer and t personality of t product.it looks at the consumer’s motives, which may be unconscious but which still affect his or her choice of products. For example a computer game might involve the user fighting enemies on screen: whether those enemies are the prince and the monster could have a big impact on sales, even though the game itself might not be affected by that choice. PRODUCTION ORIENTATION describes a company which makes what it thinks the customers will buy.it may make good products but will not take t trouble to find out whether there’s a market for them. Organisations developed specific skills and technologies. Large scale production to reduce overall costs providing acceptable quality at the lowest cost. Customers dissatisfaction is easy to see but difficult to address and correct. For example, when Ford was the pioneer of car production, he said that customers could have any kind of colour as long as its black, black was the colour of the cars produced because was convenient for Ford. PRODUCT DIFFERENTIATION occurs when specific products or brand which have a specific combination of costs and benefits which a particular set of potential customers seek. This allows the product to be positioned in the market for specific customers. As an example, clothing shops which sell online giving discount in order to improve sales

...