CBSE Class 12-commerce Answered
what are the assumption made by a firm pursuing a marketing concept?
Asked by kartikeybhardwaj02 | 20 Apr, 2020, 11:29: AM
Expert Answer
Marketing concept
- This concept lays down that customer satisfaction is the most important factor which determines the success of an organisation.
- In the long-run, a firm needs to identify the current needs of present and prospective buyers and satisfying them in an effective manner in order to succeed.
- The primary focus of business is on customer satisfaction.
The following points explain in brief the marketing concept:
- The organisation must clearly identify the target customer base and the market. All its marketing efforts must be directed towards that particular market segment.
- It should work towards developing products and services which are according to the needs of customers and should satisfy them.
- It must ensure that the product can satisfy the needs of customers better than that done by competitors.
- The basic objective of all activities should be profit earning.
According to the marketing concept, if organisations focus on customer satisfaction, then marketing would take place in an effective and smooth manner. If products are according to the needs of customers, then selling would be an easy task.
Answered by Surabhi Gawade | 20 Apr, 2020, 02:50: PM
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