Marketing Concept Definition Business. What are the Marketing Concepts. It is the whole business seen from the point of view of the final result that is from the customers point of view.
THE PRODUTION CONCEPTo One of the oldest conceptso It holds that consumer prefers the products that are inexpensive and widely availableo Managers of production-oriented business concentrate on achieving high production efficiency low costs and mass distributiono Concept often used when a company wants to expand the market. This theory states that successful products and services are those that actually supply something that the customer is actually requiring. Marketing concept a business philosophy which aims at the generation of profits by the recognition and satisfaction of customer needs.
Marketing concept a business philosophy which aims at the generation of profits by the recognition and satisfaction of customer needs.
Below are some definitions of the marketing concept which demonstrate the breadth and scope of the term. Marketing concept is a set of strategies that the firms adopt where they analyse the needs of their customers and implement strategies to fulfil those needs which will result in an increase in sales profit maximisation and also beat the existing competition. These approaches are called marketing concepts or a philosophy that determines what type of marketing tools are used by a company. Marketing may be defined as the collection of activities undertaken by the firm to relate profitability to its market.
