[BEST] Evaluate the modern concept of marketing

 Importance of modern marketing concepts

Evaluate the modern concept of marketing Following aspects of modern marketing concepts is not only beneficial for consumers but can also be beneficial for businesses serving them. Businesses can evaluate their operations on a full scale to determine whether various departments and systems, such as sales and marketing, are collaborating efficiently in monitoring the results of data and marketing strategies.

Evaluate the modern concept of marketing

It emphasizes the importance of integrated relationships between departments and the ability to collect and analyze consumer data to ensure integrated customer service.

5 modern marketing concepts

production concept

Before a business can present a product to consumers, they must first manufacture or produce the said product. This concept is based on the philosophy of being overproduced, its cost to consumers is low and if a business can figure out how to produce the product on a large scale (factories), it also reduces the cost for them is. If this concept could be described in 4 words it would be: increase profit, reduce cost.

Product concept

No matter how high quality a product is, the consumer necessarily weighs cost, access, and efficiency before deciding to buy the product. If a business produces luxury goods that are priced, the number of consumers vying for it, but the product will likely be down, making it a niche product.

Sales concept

Dealing with the process of actually selling a product, this concept emphasizes the importance of selling more of the product, whether the needs of the consumer are met or the quality of the product/service. This concept alone is not followed by long-term consumer relationships, satisfaction, or consistent sales of a product.

Marketing concept

As stated earlier, the marketing concept places the consumer as the main priority for business operations. All the motivations needed to build a product and a marketing strategy to reach potential consumers are to satisfy and enhance their satisfaction. This can make a business a preferred choice among its competitors due to putting consumers' needs first.

Social marketing concept

While similar to the marketing concept in prioritizing consumer needs, the concept also urges businesses to take into account the overall welfare of the consumer and society as a whole. An example of this could be businesses considering an environmentally friendly way of producing their products to reduce carbon emissions, make the air healthier, and improve breathing conditions for consumers.

Social marketing can increase profits by selling products:

Creating products to meet consumer needs is very useful

Focusing on the welfare of the public at large

Improve the quality of life of consumers

Modern marketing concepts are:

Knowing who your target consumer is

Learning and understanding consumer needs/needs through online interaction

Creating products that meet the needs of the target consumer

Leading the competition in customer satisfaction

Ensuring that business efforts generate profits for the organization

4 Characteristics of Marketing Concept

customer orientation

The marketing process begins with knowing the wishes of customers until a business can create a product or provide a service that can fulfill them and satisfy them. Happy customers lead to higher profits.

integrated approach

Coordinated collaboration between different departments within a business (marketing, production, finance, etc.) is important to meet customer needs. features of marketing with examples read this information

Long term view

Creating long-lasting relationships with consumers with consistent service and quality that they can trust, ensure profit, retain customers, and attract new customers for longer. It builds a business into a reliable and well-known brand.

Profitable sales volume

Making a profit over a long period of time is a sign of whether a business's marketing efforts were a success. Not only does a business want to increase profits, but they also want it to be consistently long term