The marketing concept is a vital concept in the functioning of an organization. Marketing is the procedure in getting the right set of goods or services or ideas to the right people at the right time, place, and price by making use of the right promotional methods and taking the support of the correct people to deliver the customer service related to the goods, services or ideas. This concept is called the right principle and it forms the basis of all the marketing strategies.
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Marketing is basically figuring out the wants, needs of prospective buyers, which can be either companies or customers, and then giving them the goods and services that they are satisfied with. Marketing is about forming the exchanges that happen between two or more persons to give and get some value and satisfy their specific needs or requirements or wants.
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In a typical marketing exchange, a customer buys a good or service in exchange for money. However, there are many non-monetary exchanges that also happen such as when people volunteering for a charitable cause get a gift of mug or t-shirt or award for the kind of work they have done. Many times people confuse the terms of marketing and sales. People think that they are one and the same, but in reality, only companies know how they include marketing and sales strategies in their business.
Sales mean what, it is a kind of actually selling of the organization’s products or services to its customers. However, marketing is the procedure of communicating the value of a product or service to the customers so that sales can happen. In order to make exchanges happen, marketers take note of the right principle.
The marketing concept is not standardized and there can be variations in the planning and implementation of marketing strategies. Thus, we need to be aware that we make use of the best available resources and help the product or service get done with the right strategy to make the purchase happen.
