Marketing Concepts That Focus on Consumer Needs
In this article we will examine some of the core elements of Marketing. Marketing is the process by which organizations serve their customers and gain advantage over their competitors to increase sales, make profits and retain existing customers. Marketing covers a broad spectrum and involves a variety of activities. Marketing has three basic objectives namely:
The marketing concept of promoting products or services to the end users is known as marketing. It involves gathering information about the potential customers, analyzing and assessing buying behavior, analyzing market trends and developing strategies to meet customer demands. Marketing management therefore is involved in creating and managing marketing programs. Marketers seek new knowledge and innovative concepts to give them an edge over the competition. By definition marketing management is a process by which organizations seek to promote products or services to the end users so that they can gain competitive advantage, minimize their market share and increase their sales.
Marketers are continuously seeking ways to satisfy more consumers with the products and services that they need. With the market becoming more specialized, marketers must apply effective marketing concepts to be successful. Marketers use various marketing techniques to grab the consumers’ attention and interest. Marketing concepts must be relevant to consumers, must be appealing and at the same time have a strong market impact on the organization. There are three key marketing concepts that are used by most companies today.
The first and foremost marketing concept is customer needs analysis. In a customer needs analysis a company seeks to understand and identify the key priorities of the prospective customers. By doing so, marketers get a clear picture about customer needs, which enables them to plan and design a strategy for product promotion that will be in line with the customer needs. Moreover, market research shows that customer needs change very often. Marketers therefore, pay special attention to changing consumer needs and incorporate them in their product and service creation strategies.
The second concept is marketing research. Through market research a business is able to know better what consumers require and in what manner, marketing can channel its energies towards promoting the product. The third concept is marketing psychology, which studies how consumers react to marketing messages.
By studying the response of consumers to marketing activities, marketers learn how to enhance their selling techniques. The fourth and fifth marketing concepts are product knowledge and product positioning. These concepts concentrate on knowing the customer’s taste and preference when buying a particular product or choosing a particular service.
The fifth marketing concept is coordinated marketing. Coordinated marketing involves using multiple marketing techniques to reach out to potential customers. For instance, a manufacturer might develop a television commercial, give out brochures and distribute flyers. A number of organizations may come together to conduct market research and build a database of customers who may be interested in purchasing the product.
The final marketing concept is influencer marketing. This term pertains to those firms and individuals who use their influence to promote a product or service. They help establish the identity of a company or an individual. Influencer marketing focuses on increasing consumer awareness, increasing sales and attaining desirable market position.
Marketers now realize that it is important to establish a good rapport with consumers. Consumers tend to look for and trust marketers who they can respect and admire. Marketers should therefore develop a positive relationship with consumers. Other marketing concepts that help marketers gain respect from consumers include effective publicity and reputation building. With the help of these marketing strategies, marketers can easily create lasting positive image in the minds of consumers.
Successful selling requires effective selling techniques. Companies and people who intend to make it big in the business world should pay attention to these marketing concepts. The success of a business depends largely on the sales of the products and services produced. As such, companies should constantly come up with innovative selling techniques that will make them stand out from the crowd. These selling techniques should also be informed by the latest trends in the market so as to make the selling process more efficient.
These concepts form the core of coordinated marketing. Coordinated marketing usually involves several marketing activities aimed at meeting a common goal. Some of these activities include gaining customers needs and expectations, providing goods and services that meet consumers’ needs and expectations, analyzing the market, developing marketing programs, communicating with customers, planning and executing the strategies, and monitoring the results of the strategies. All these activities should be carried out in an orderly fashion to achieve the desired goal of the company.