Concept Of Marketing Concept Introduction

INTRODUCTION TO MARKETING

Marketing is a process of communicating the value of product or service to customers, for the purpose of selling the product or service. It is a critical business function for attracting customers.

From a Societal point of view, Marketing is a link between a society’s material requirements and its economic patterns of response. Marketing satisfies these needs and wants through exchange processes and building long term relationships. It is a process of communicating the value of a product or service through positioning to customers. Marketing can be looked at as an organization function and a set of processes for creating, delivering and communicating value to customers, and managing customer relationships in ways that

It holds that consumer and Businesses, if left alone, will ordinary not buy enough of the selling company’s products. The organization must, therefore, undertake an aggressive selling and promotion effort. This concept assumers that consumers typically show buying intertia or resistance and must be coaxed into buying. It also assumes that the company has a whole battery of effective selling and promotional tools to stimulate more buying. Most firms practice the selling concept when they have overcapacity. Their aim is to sell what they make rather than make what the market wants. The Marketing Concept: This is a business philosophy that challenges the above three business orientations. Its central tents crystallized in the 1950s. It holds that the key to achieving its organizationl goals(goals of the selling company) consists of the company being more effective than competitors in creating,delivering,and communicating customer value to its selected target customers. The marketing concept rests on four pillars: target market,customer needs,integrated marketing and profitability. Distinctions between the Sales Concept and the Marketing

Consumer awareness involves study of how people buy, what they buy, when they buy why they buy. It blends the elements from psychology and sociology, socio psychology, anthropology and economics. It also tries to asses the influence on the consumers from groups such as family, friends, reference groups and society in general. Buyer awareness has two aspects, final purchase activity visible to any observer and the detailed or short decision process that may involve the interplay of a number of complex non-visible to anyone. The consumer buying process is a complex matter as many internal and external factors have an impact on the buying decisions of the consumer. When purchasing a product there several processes, which consumer go through. This will be discussed