Skip to content
Question of 38

Q.What is marketing concept? How does it help in effective marketing of goods and services?

Uttar Pradesh UpmspUP Board (UPMSP) Intermediate (Commerce) 2024Subjective· 10mImportance★★★★★
0% · 0/38 Questions
🔒 Locked · start free trial →

You're viewing a preview — the full solution, concept, methods & PYQ mapping are locked.

Start your 14-day free trial to unlock the full solution →

The marketing concept puts the customer first — satisfy customer needs better than rivals to earn profit — which makes all marketing decisions customer-driven and hence effective.

Meaning of the Marketing Concept: The marketing concept is a modern, customer-centred philosophy of doing business. It states that the key to achieving organisational goals (including profit) lies in identifying the needs and wants of the target customers and satisfying them more effectively and efficiently than competitors. Here, profit is earned through customer satisfaction, not merely by selling whatever is produced. It evolved after the earlier production, product and selling concepts proved inadequate.

Pillars of the marketing concept: (i) identifying the target market/customer, (ii) understanding customer needs, (iii) integrated marketing effort, and (iv) customer satisfaction leading to profit.

How it helps in effective marketing of goods and services:

  1. Customer focus guides all decisions — Product features, quality, price, distribution and promotion are all designed around customer needs, so the offering genuinely fits the market.
  2. Better products and satisfaction — Because the firm first studies what customers want, the products satisfy them, reducing the risk of unsold stock and failed products.
  3. Customer loyalty and repeat sales — Satisfied customers return and recommend the product, building goodwill and a stable market.
  4. Competitive advantage — Satisfying customers 'better than competitors' differentiates the firm and strengthens its market position. …

Unlock everything free for 14 days

  • Full step-by-step solutions
  • Concept-first explanations
  • Methods, shortcuts & mistakes
  • PYQ mapping + timed mock tests

Full access for 14 days. No credit card required.