Marketing remains the business activity that identifies an organization's customer needs and wants, determines which target markets it can serve best and designs appropriate products, services and programmes to serve these markets.
The goal of marketing is to create customer satisfaction profitably by building valued relationships with customers.
Marketing calls upon everyone in the organization to 'think customer' and to do all that they can to help create and deliver superior customer value and satisfaction.
Organizations gain market leadership by understanding customer needs and finding solutions that delight through superior value, quality and service.
Creating customer value and satisfaction are at the very heart of modern marketing thinking and practice.
'The aim of marketing is to make selling superfluous. The aim is to know and understand the customer so well that the product or service fits ... and sells itself.'
A human need is a state of felt deprivation. Humans have many complex needs. These include basic physical needs for food, clothing, warmth and safety; social needs for belonging and affection; and individual needs for knowledge and self-expression.
Understanding customer needs, wants and demands in detail provides important input for designing marketing strategies.
People satisfy their needs and wants with products. A product is anything that can he offered to a market to satisfy a need or want.
Customer value is the difference between the values the customer gains from owning and using a product and the costs of obtaining the product.
"If the customer doesn't like it. it's a defect".
We define marketing management as the analysis, planning, implementation and control of programmes designed to create, build and maintain beneficial exchanges with target buyers for the purpose of achieving organizational objectives. Thus, marketing management involves managing demand, which in turn involves managing customer relationships.
The marketing concept holds that achieving organizational goals depends on determining the needs and wants of target markets and delivering the desired satisfactions more effectively and efficiently than competitors do.
The societal marketing concept holds that the organization should determine the needs, wants and interests of target markets. It should then deliver the desired satisfactions more effectively and efficiently than competitors in a way that maintains or improves the consumer's and the society's well-being.
No comments:
Post a Comment