The Marketing Concept

The marketing concept puts the customer at the centre of the organizational decision making process. This is sometimes referred to as a the business philosophy or concept. There are other concepts that a company can have that allows them to effectively compete in the prevailing market conditions.

These are sometimes linked to the development of markets over time. For example initially a company must focus on the product until the generic form is developed and accepted by the marketplace. Initially in a new market the demand might exceed supply, so focusing on the production is needed to enable production levels to build in order to meet demand, as production builds and supply begins to exceed demand companies need to ensure that they have effective sales methods to ensure there market share. Finally as markets mature companies need focus on the needs of the customer and ensure that they are meeting the needs as individually and as a society. This need to meet the need of society was initially seen as a distinct orientation, with organizations such as the body shop and Cooperative bank positioning themselves using ethical statements, however as issues such as global warming and exploitation of third world economies have become more main stream it is expected that an organization with a marketing orientation will have an acceptable ethical policy.

The above shows that the marketing philosophy anticipates profits through increased levels of satisfaction this might be through a premium on the price or through increased life time value of customers.

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