Marketing concept

The marketing concept can be defined as adopting a consumer orientation in order to achieve long-term success. All of the organization’s efforts are geared to satisfying consumer needs. The philosophy of the marketing concept emerged during the 1950s, as the marketing erasucceeded in the productionand the sales. The concept can be applied to both profit-oriented and nonprofit organizations. Marketing is the link between the organization and the consumer. It is the way in which consumer needs are determined and the means by which consumers are informed that the organization can meet those needs.

In addition to selling goods and services, marketing is also used to advocate ideas or viewpoints, and to educate people.

Marketing is a total system of business activities designed to plan, price, promote and distribute want-satisfying products and services to present the potential customers.

According to the marketing concept an organization should try to satisfy the needs of customers through a coordinated set of activities that at the same time allows the organization to achieve its goals. Marketing strategy involves creating and maintaining an appropriate marketing mix (product, distribution, promotion, price and people) and selecting and analyzing a target market (a group of people for whom a firm creates and maintains a marketing mix that specially fits the needs and preferences of that group). In other words, marketing is a strategic management process; the business of marketing must be organized, directed, and controlled to be effective.

It has often been said that the key to successful marketing is having the right product at the right price in the right place with the right promotion. In the end, the person who decides the ‘rightness’ of these four elements is the customer.

The daily activities of people who work in marketing departments revolve around designing, developing, and enhancing products, setting the prices for those products, promoting the products’ features and benefits to the target markets, and distributing the products to the markets. These activities, the core of any marketing system, constitute the four controllable factors that provide the most effective choice for the consumer. They are often referred to as ‘the four Ps’ of marketing: product, price, place (distribution) and promotion.

Each of the 4 Ps focuses on the customer and each is related to the other because a decision about one usually affects the others. The most effective combination of the 4 Ps is the right marketing mix for each particular product or service.

Note: The 4 Ps of marketing are now the 7 Ps, because of the increasing importance of services and customer service. They are: product, price, promotion, place, people, process and physical evidence.

Assignment 3. Answer the following questions.

1. How can the marketing concept be defined?

2. Where are the organization’s efforts geared to?

3. When did the philosophy of marketing concept emerge?

4. What is marketing?

5. What are the major components of a marketing strategy?

6. What is a target market?

7. What is marketing mix?

8. What is the key to successful marketing?

9. What are the four controllable factors that provide the most effective choice for the consumer?

Assignment 4. Match the words and phrases with the correct definition and learn them.

Market price	Gathering, recording and analyzing of facts related to marketing goods and services.
Marketing research	The idea of fulfilling the needs of customers at a profit.
Marketing concept	The combination of 4 marketing activities aimed at creating demand among the target market.
Marketing mix	The market that appears most promising in terms of the highest and most probable profit margins.
Target market	The price of goods or services established by the interplay of supply and demand in a market.

Assignment 5. Ask questions to fit these answers.

1. Marketing is a part of business which is concerned with the way in which a product is sold. 2. The marketing concept emerged because the marketing erasucceeded in the productionand the sales. 3. The marketing concept can be applied to both profit-oriented and nonprofit organizations. 4. Marketing strategy involves creating and maintaining an appropriate marketing mix and selecting and analyzing a target market. 5. The key to successful marketing is having the right product at the right price in the right place with the right promotion. 6. The daily activities of people who work in marketing departments revolve around designing, developing, and enhancing products.

Assignment 6. Indicate by circling the appropriate response whether each of the following statements is true (T) or false (F). If it is false, say why.

T F 1. During the 1950s the marketing era failed in the production and sales.

T F 2. Marketing is the link between the organization and the consumer.

T F 3. The 4 P’s provide the most effective choice for the consumer.

T F 4. Marketing mix is a group of people for whom a firm creates and maintains a marketing mix.

T F 5. A person who decides the ‘rightness’ of 4 elements is a customer.

T F 6. Product is the first and most important element of the marketing mix.

Assignment 7. Translate the following phrases into Ukrainian.

To adopt a consumer orientation; in addition to selling goods and services; to advocate ideas or viewpoints; to distribute want-satisfying products; to maintain an appropriate marketing mix; to fit the needs and preferences of the group; the key to successful marketing; the daily activities of people revolve around designing and enhancing products; process and physical evidence.

Assignment 8. Translate into English.

Для того, щоб досягти довгострокового успіху; усі зусилля організації спрямовано на; концепцію можна застосувати як до прибуткових організацій, так і до неприбуткових; задовольняти потреби (декілька варіантів); усі фактори зосереджуються на покупці; одне рішення впливає на інше.

Assignment 9. Match the pairs of synonyms. Use any 5 words in the sentences of your own.

A: benefits; core; to emerge; to maintain; to affect; to achieve (the goals); to apply.

B: to use; to accomplish; to advocate; to influence; advantages; to appear; essence.

Assignment 10. Match the pairs of words with opposite meaning. Use any 5 words in the sentences of your own.

A: long-term; success; to satisfy; profit-oriented; to create; right; to emerge.

B: wrong; to disappear; short-term; failure; nonprofit; to disappoint; to destroy.

Assignment 11. Fill in the spaces to match the 7 Ps to the best definition.

Дата добавления: 2014-11-29