The marketing concept revolves around the desire for companies to meet the needs of their consumers adequately before the competition does. In an industry where more than one company is providing service, the competitive advantage lies in ensuring that the customer needs are wholesomely met by your own product. Buyers and customers need to perceive the value of the service as well as product. This means that focus is drawn by consumers not just towards the extras but actually towards the ability of the product to be valuable as it is. The difference between actual and perceived satisfaction often arises when the consumers are unable to or have a difficult time assessing in advance what needs the product and service seeks to satisfy.
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The marketing concept relies on strong and long term relationships with the target consumers. Employees and stakeholders in all levels of the business stay focused on ensuring customer satisfaction, (Blythe 2003). To this end companies focused on ensuring a strong marketing concept define themselves, and base all strategies within the business on this concept. According to Nash (2000) and Cardogan (2009) the customer dictates not just the product, but also the process of production and distribution of the product. Once the customer becomes the focus, it is assumed that business automatically grows; products increase in value and the target market can be expanded. A significant fact to be remembered is that in order to develop and operate a marketing concept, the company and/ or business requires maintaining constant communication with its customers. The intention is to listen carefully to what they need possible changes in trends which in turn allows for adaptation of the products. General motors is a company that has maintained a close ear in the market. Each year, they unveil products which seem to reach to and address the needs of the customers.
In the past five years for example, concern for consumer in the motor industry has been directed towards efficiency at lower costs. The economic challenges means that consumers are now unable to afford high cost vehicle. The past two vehicles unveiled by general motors have answered this call. The vehicles have applied technology to increase efficiency while at the same time managing not just to lower the original purchase price but also the maintenance cists. In fact the company’s focus has been on producing vehicles with low fuel consumption, a strategy that is paying off with the consumers.
The one thing that makes the marketing concept attractive is the fact that it capitalizes on the customer. When the needs of the customer are put first, products and services are developed to meet these needs, (Ferrell and Hartline 2005). At this stage, the company is almost always assured of a ready market. The marketing concept exists when the business is sufficiently informed and possess the right resources to uniquely meet the needs of the consumers. To manage this effectively, activities within the business from production to the final sale and even follow up focus on the consumer. Bradley (1991) states that, buyers have different purchasing habits towards the products, and each of these habits must be addressed through the business products. In the current economic structure, businesses tend to overlap so that similar products end up in the market competing for the same buyer. The advantage comes to the product that closely meets the needs, desires and ideals of the consumer.
References
Blythe, J. (2003). Marketing Strategy. London, Mcgraw-Hill Education.
Bradley, F. (1991). International Marketing Strategy. New York, Prentice Hall.
Cadogan, J. W. (2009). Marketing Strategy. London: Sage.
Ferrell, O. C., & Hartline, M. D. (2004). Marketing Strategy. Mason, Ohio, Thomson/South-Western.
Nash, E. (2000). Direct Marketing Strategy, Planning, Execution. New York, Mcgraw
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