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Core concepts in marketing [ edit ] Marketers may sell goods or services directly to consumers, known as business to customer (B2C marketing); commercial organizations (known as business to business marketing or B2B ), to government ; to not-for-profit organizations ( Not-for-profit organization (NFP) ) or some combination of any of these.
Marketing concept: This is the most common concept used in contemporary marketing, and is a customer-centric approach based on products that suit new consumer tastes. These firms engage in extensive market research, use R&D (Research & Development), and then use promotion techniques. [46] [47] The marketing orientation includes:
Societal responsibility of marketing is a marketing concept that holds that a company should make marketing decisions not only by considering consumers' wants, the company's requirements, but also society's long-term interests.
Marketing strategy refers to efforts undertaken by an organization to increase its sales and achieve competitive advantage. [1] In other words, it is the method of advertising a company's products to the public through an established plan through the meticulous planning and organization of ideas, data, and information.
The prospect of expanding or modifying the marketing mix for services was a core discussion topic at the inaugural AMA Conference dedicated to Services Marketing in the early 1980s, and built on earlier theoretical works pointing to many important problems and limitations of the 4 Ps model. [20]
The basic underlying concept of value in marketing is human needs. The basic human needs may include food, shelter, belonging, love, and self expression. Both culture and individual personality shape human needs in what is known as wants. When wants are backed by buying power, they become demands.
Macromarketing is an interdisciplinary field that studies marketing as a provisioning technology of society. It focuses on marketing-society interactions including such topics as marketing systems, aggregate consumer behavior, market regulation, social responsibility, justice and ethics in markets, and sustainable marketing.
The traditional marketing mix refers to four broad levels of marketing decision, namely: product, price, promotion, and place. [19] When implemented successfully, these activities should deliver a firm's products or services to target consumers in a cost efficient manner. The four core marketing activities include: product, price, place and ...