Basic Principle of marketing concept

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November 6th, 2011 Posted in Marketing

Target market

A market is a set of actual and potential buyers of a product or service. Business organization cannot fulfill the needs of all the consumers in the total market. Therefore, a particular group of consumers with homogeneous needs, tastes and preferences are identified for market purposes.

Customer oriented

The marketers have to understand the customer needs correctly and differential between (a) stated needs ,(b)real needs,(C)unstated needs,(e)delight needs(e)secret needs. The marketing have to all these needs to be effective and successful.

Integrated marketing

It seeks to integrate the making activities at two levels (a)The different marketing functions like sales force, advertising customer service, product management and market research most work together and be coordinated from the customers point of view. (b)Activities of marketing departments must be integrated with other department.

Objective achievement

The prime objective of the marketing concept is to help the organization achieve their objectives of profit maximization. Business companies aim at making profit and no-profit organization raise funds to carry out their work for the benefit for the society.

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