MARKETING PRINCIPLES AND BUSINESS PRACTICE

Marketing Principles and Business Practice

Marketing Principles and Business Practice

Introduction

This paper intends to discuss the various concepts of marketing. The concepts of selling and marketing will be defined and distinguished within the first part of this paper. The different marketing management orientations will be highlighted. The importance of consumer needs, wants, satisfaction and customer relationships within the consumer decision making process model will also be explored. The first part of this paper will make the reader aware about the significance of various important concepts in relation with the consumer decision making process. The second part of this paper intends to utilize the concepts of marketing by assuming myself as a new marketing manager of Facebook. The role I need to play being a marketing manager of Facebook is to identify the segmentation bases for Facebook. The justification of my choice will be provided in the light of different and relevant theories. The purpose of this entire paper is to make the reader aware about the different aspects of marketing and its practical implications. The paper will be divided in two significant parts; one being a theoretical one to describe the concepts and the second part intends to be more at a practical side.

Discussion

Question 1

Describe the 'selling concepts' and 'marketing concept' as marketing management orientations with examples and justify why 'marketing concept' has superseded the 'selling concept'. Discuss your answer in light of these two Marketing management orientations; while highlighting the significance roles of consumer needs, wants, satisfaction and customer relationships in consumer decision-making process model.

Answer

Concept of Selling

The concept of selling basically relates to the seller and his or her extreme emphasis over the selling of existing products. The selling concept can be regarded as being seller oriented. The focus of seller is limited to sell the products he or she possess currently. The selling concept is to just sell the products to the customers while not making any efforts for better future business opportunities. The companies which imply the concept of selling over the concept of marketing usually believes that selling can result in aggressive money making. The strategies for selling are always frontward and various promotional techniques are also utilized. The seller is not really concerned about the customer value and the satisfaction level customers possess after utilizing the products being sold. Moreover, the selling concepts do not consider the consumer demands and characteristics while making the products. Rather, products are made first and then selling strategies are thought off in order to make profits by selling the products company has produced. The selling orientation lacks coordination between different departments of the company (Allard, 1991 Pp. 100-125).

Concept of Marketing

The concept of marketing tends to be extremely different from the concept of selling. While the concept of selling starts from producing the products and then opting for strategies to make the profits by selling the products made; the concept of marketing orientation starts with the customer as the main ...