Question

1. Define marketing concept. Find an example to define marketing concept.
2. Distinguish between production-oriented and customer-oriented perspectives. Find two examples for each perspective.
3. Define customer value. Find three examples.
4. What is mass marketing? What is target marketing? Find two examples for each one.
5. Define marketing strategy. Find a company and explain how companies develop marketing strategy.

Answer 1

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1) Marketing concept -

It is mainly a philosophy by which an organization analyse the needs and wants of the customers and then based on that information, makes decisions so to satisfy their needs. The main aim of marketing concept is to gather information about the target customers so that an organization can satisfy the needs of the customers more than it's competitors. The marketing concept has different types such as production, selling, product, marketing, societal marketing, etc.

Example -

Suppose a target market needs something which can help them to store data. A company builds floppy disk and tries different ways to redesign it. The marketing concept gathers information and then the question comes, do the customers really need floppy disk? Or some other storage device such as USB drive, hard disk, SD memory card, etc.

Hope this helps :)

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