Marketing Concept | Identifying and meeting the needs and desires of the target markets

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Marketing Concept | Identifying and meeting the needs and desires of the target markets | tinobusiness.com
Marketing Concept | Identifying and meeting the needs and desires of the target markets | tinobusiness.com

The marketing concept has a philosophical background that leads to companies or organizations to which the practican- identifying and meeting the needs and desires of their target markets in exchange for obtaining a particular utility or benefit.

It is therefore of vital importance that marketers like all people who are related to the area of marketing, know what the marketing concept and how to apply …

 

 

The marketing concept, according to experts in the field:


  • For Philip Kotler , author of “Marketing Management“, the concept of markets leads us directly to the marketing concept, and at the discretion of that author, “it is a human activity that is related to the markets, means working with them to update potential exchanges in order to satisfy human needs and desires “ . [1] In another of his books (marketing, Essential Concepts), Philip Kotler says that the concept of marketing is based on four pillars:
    • 1) goal,
    • 2) customer needs,
    • 3) marketing integrated market and
    • 4) profitability; therefore (marketing concept) adopts a perspective from the outside in; that is, begins with a well-defined market, focuses on customer needs, coordinates all activities that affect the clients and produces profits to satisfy them [2].
  • For Laura Fischer and Jorge Espejo , authors of “Marketing” business premises on which rests the guidance to the consumer or marketing concept , are [3]:
    1. Consumers can be divided into segments according to their needs and demographics. Change at any time the product that best meets your needs and determine what products and services should provide the organizations.
    2. The organization believes that its mission is to meet a defined set of needs and expectations of a certain group of customers.
    3. The organization recognizes that to meet fully the expectations a good research program begins by identifying markets is required.
    4. The organization states that all company activities that tend to affect customers must be subject to an integrated control marketing .
    5. The organization knows that to fully satisfy its customer loyalty, preference and good opinion of them will win; which, you will achieve your goals.

In short, the marketing concept focuses on the latter as a human activity at markets to achieve exchange processes that meet needs and / or desires in exchange for a utility or benefit to the company or organization that practices it.

 

 

 

Application of the marketing concept :


Some basic ideas that can be used to implement the marketing concept are:

  1. Recognizing that consumers are grouped into well-defined segments (target markets) and that all starts when they are identified.
  2. Accepting that the primary mission of a company or organization is to satisfy the needs and / or desires of identifying target markets.
  3. Coordinate all activities of Marketing (from market research to control activities and monitoring activities undertaken), whereas each of them directly affect customers, therefore, affect the decisions they make.
  4. Do not forget that getting a particular utility or benefit to the company or organization is the end result of properly meeting the needs and / or desires of customers.

Sources:


[1] : From the book: Marketing Management, Eighth Edition, by Philip Kotler, p. 12.

[2] : From the book: Marketing Management, Essential Concepts, Philip Kotler, Prentice Hall, pp. 12.

[3] : From the book: Marketing, Third Edition, by Laura Fischer and Jorge Espejo, Mc Graw Hill, p. 10.

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