Characteristics of Marketing Concept - Commerce PDF Download

Some of the major characteristics of marketing concept are as follows: 1. Customer-orientation 2. Marketing Research 3. Marketing Planning 4. Integrated Marketing 5. Customer Satisfaction.

1. Customer-orientation:

All business activities should be directed to create and satisfy the customer. Emphasis on the needs and wants of consumers keeps the business on the right track.
All marketing decisions should be made on the basis of their impact on the customer. Consumer becomes the guide of business.

2. Marketing Research:

Under the marketing concept; knowledge and understanding of customer’s needs, wants and desires is very vital. Therefore, a regular and systematic marketing research programme is required to keep abreast of the market. In addition, innovation and creativity are necessary to match the products of requirements of customers.

Up-to-date and adequate knowledge must be available to answer the following questions:

(а) What business are we really in?

(b) Who are our customers?

(c) What do the customers want?

(d) How should we distribute our products?

(e) How can we communicate most effectively with our customers?’

3. Marketing Planning:

The marketing concept calls for a goal-oriented approach to marketing. The overall objectives of the firm should be the earning of profits through satisfaction of customers. On the basis of this goal, the objectives and policies of marketing and other departments should be defined precisely. Marketing planning helps to inject the philosophy of consumer-orientation into the total business systems and serves as a guide to the organisation’s efforts.

4. Integrated Marketing:

Once the organisational and departmental goals are formulated, it becomes necessary to harmonize the organisational goals with the goals of the individuals working in the organisation. The activities and operation of various organisational units should be properly coordinated to achieve the defined objectives. The marketing department should develop the marketing mix which is most appropriate for accomplishing the desired goals through the satisfaction of customers.

5. Customer Satisfaction:

The aim should be to maximise profit over the long run through the satisfaction of customers wants.