Marketing is the term that involves the various processes and ways which are used for the purpose of creating value to the customers so that their needs and wants can be satisfied. A series of endless actions are usually involved in the process of marketing. Among the party which is involved in such actions is the firm which is striving to meet the needs and the wants of the target customers. It also includes the various reactions of the customers with regard to the marketing efforts made by the business organization. Meeting the needs of the target customers of the business organization is the primary object of every marketing activity.
An organization has to implement a number of concepts so that the marketing efforts may be a success. The term used to refer to this concept is the marketing concepts. The concepts of marketing are a series of strategies that are utilized by the firms so as they can meet the needs and wants of the customers. Firms also the marketing concept so that they are able to remain at the top of competition in the market place. Among the marketing concepts that a firm may choose to leverage on may include the production, product, selling, marketing and the societal marketing concepts.
The first concept of marketing is the production concept which holds that the products which have the high availability are the ones that most of the customers will favor. They will also favor the products which are affordable to them. So that the products may have a high availability, the firms should the focus of continuous production. On the other hand, what the product concept provides is that high quality on to a is what makes the customers to favor such a product. What defines quality in this case is the presence of high performance and availability of unique which features which are more innovative. This concept provides that if a firm has to remain relevant, then it has to focus on continues improvement to the products. On the other hand, the selling concept provides that most customers will buy more of a product if the firm undertakes large scale efforts in product promotion.
The marketing concept provides that a firm needs to understand the needs and the wants of the target and potential customers. The prerequisites of a firm that chooses this concept is to meet the customers needs in a better way when compared to the existing competitors in the market. The philosophy of customers first is utilized when using this strategy. Lastly, the societal marketing concepts holds that the firms should meet the needs and wants of the customers in a way that is likely to maintain their wellbeing.