Marketing includes all the activities related to the performance of a company's products and services in the market to maintain a record of consumption and sales. It's beneficial for every business person because each business depends on its promotional activities. If marketing strategies are effective, then your business can grow in the market.
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"Marketing is the performance of business activities; its use as alike middleman. that direct the flow of goods and services from the manufacturer, to consumers or users."
Marketing is a conscious effort to reach the desired transaction results with market objectives. Marketers have attempted to identify the concepts carrying these efforts. There are five different concepts which describe as ideas of marketing
The production concept is one of the oldest concepts. The production concept believes that customers will favor these products that are generally available at a low cost.
The product idea holds that the customers will support products that offer the most in quality, execution, and creative characteristics. The main focus of this is the continuous improvement of the product.
The selling idea holds the thought "customers won't purchase enough of the association's goods except if it embraces an enormous scale selling and marketing exertion."
Here the administration centers around making a transaction of sales and doesn't put the focus on long term customer relationships.
The promoting idea holds-"accomplishing organizational objectives relies upon knowing the requirements and needs of selected markets and conveying the ideal fulfillments superior to anything competitors do."
Here promoting handling takes a "consumer first" approach.
The Social concept may adequately be described as an extension of the marketing concept. Besides customers, it also addresses the concerns of the society to which it belongs. It calls for enhancing not only the consumers but society's well-being as well.
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In the course of converting to a market-oriented company, a company might face three hurdles-organized resistance, slow learning, and fast forgetting.
Some company departments such as manufacturing, finance not like to see marketing built up because it threatens their power in the organization.
Companies might be limited in adapting changes and put themselves into being market-driven. Managers and employees might not accept change readily. Even if companies make rules to implement the concept, the attitude of staff may not change very fast.
Even after effective marketing, an organization matures through the various stages. Management needs to fight a strong leaning to forget basic marketing principles.
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