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Marketing Concept

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MARKETING MANAGEMENT MKT516CRN40360Danielle Mc Cartan-Quinn D.McCartan-Quinn@ulster.ac.uk 02890368865MARKETINGMarketing may be defined as the processes established by anorganisation to understand, develop and influence exchangeswith individuals, groups, or organisations in a way to reach theorganisations objectives.Dubois, Jolibert & Mulhbacher (2007), Marketing Management,Palgrave MacmillanTHE MARKETING CONCEPTThe marketing concept is not a theory of marketing,but a philosophy of business. It affirms that the keyto meeting the objectives of stakeholders is tosatisfy customers. In competitive markets thismeans that success goes to those firms which arebest at meeting the needs of customers.THE MARKETING CONCEPT Thetop priority of business today isorganising to motivate employees to findnew and better ways of satisfyingcustomers. Marketing, in competitive, freeenterprise markets, is both a centralmanagement task and an engine foreconomic progress. The tasks of thegovernment are to encourage competitionand to ensure that firms do not imposedamaging environmental impacts uponothers.THE MARKETING CONCEPTThis starts with managers segmenting the market andunderstanding the value needs of customers. They thendevelop positioning strategies for the segments uponwhich they decide to focus. After the opportunity isdefined, a team-like approach across the functionalareas is needed to develop and provide the solution ...
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