The Role of Marketing Concept in Business Success

The Importance of the Marketing Concept for Business Success

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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.

The marketing concept relies on…