Can You Discuss The Implications For A Business Organization Of Adopting The Marketing Concept?


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amber Jhon answered
Yes all of the organizations go for the implications of the marketing concepts. Marketing function of a business is considered for creating awareness in the minds of the customers for a specific product or a service. Suppose, the basic market concept is the marketing mix and it includes four important factors including, product, price, place and promotion. Now a business organization have to implement all of these factors of the marketing concept to make the business successful. When the company will design the product then it will focus on the basic and the augmented features of the product for the target market. For determining a pricing strategy again the marketing concepts can be applied like either to go for marketing penetrating strategy or market skipping pricing strategy. In the fourth factor of marketing mix, place will be decided, that where to take the business and location. Similarly, business organizations also make their products popular among the customers through the marketing concept of promotions like billboards, advertisements etc. All of the major brands and even the small SMEs, also survive in a market only through the right implications of marketing concepts.

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