Marketing is a word that encompasses a wide variety of activities. Marketing is also known as the science of identifying, anticipating and satisfying customer needs. Marketing refers to the whole process by which an organization undertakes in order to engage its targeted market, develop strong relations to generate service-based compensation for services rendered, and capture value from the exchange of commodities for goods offered. In marketing, there is a balance between advertising and sales and between selling and collecting data. Marketing therefore, involves processes such as research and analysis, assessment, planning, implementation, monitoring and adjustment. Read about Marketing Management Concepts below.
Cause And Effect
Marketing concepts are based on the theory of the cause and effect method. This is a concept that states that one will act according to the impact that his actions will have on the cause and effect relationship of a situation. For instance, when a consumer searches the Internet, she will do so according to the features she finds available, what she intends to purchase, and how quickly she intends to buy. This is a marketing concept that enables marketing researchers to come up with strategies that will effectively address the needs of the consuming public. For example, the direct effect after a business decides to buy Facebook page likes is increased exposure.
This concept involves looking into the factors that affect customers in making a decision about a product or service. This concept was developed along with marketing research. Together, they help identify what factors affect customers needs and behaviors, and identify ways to improve these factors for a more efficient marketing experience. In this way, coordinated marketing efforts can be made.
Value Marketing And Customer Orientation
The marketing concept of value is crucial for the success of any product concept. This concept acknowledges that consumers are very price sensitive, and thus products must have value to them in order to be purchased. Marketing theories consider that products with high value to consumers are likely to be successful. Because of this marketing myopia, marketers often fail to create effective value-based marketing campaigns.
The marketing concept of selling customer orientation is also part of the market value concept. In this marketing concept, marketers are required to recognize the specific needs of their customers. These specific needs vary according to the varying tastes and preferences of different groups of consumers. The goal of selling customer orientation is to promote a successful marketing campaign by making sure that a marketing campaign targets the right customer segment. This is one of the components of the value market concept that plays a big role in the success of any business.
Social Marketing Management
Social marketing management refers to marketing concepts that deal with building relationships with consumers. One example of a social marketing concept is community marketing. In this concept, marketers develop marketing programs that are constructed within the context of the community, focusing on its members’ interests.
Consumer marketing concept advocates developing marketing campaigns that build a strong relationship between consumers and sellers. The marketing concept advocates consumers need to be satisfied before they will willingly purchase products. Therefore, a marketing concept of satisfied consumers promotes coordinated marketing programs within a community or company’s community. This is considered as a good form of advertising. In addition to promoting coordinated marketing programs that build a good relationship between consumers and sellers, this marketing concept is also known to support the concept of satisfying consumers through price reduction.
Marketing concepts help marketers determine the demand in the market. However, it does not stop there. Marketers are then supposed to identify the demand in the market. Once they have identified the demand in the market, marketers then develop marketing strategies that will help them meet consumer demands. With the development of new marketing strategies and ideas, marketers hope to meet consumer needs and become successful in their business endeavors.