Marketing Mix and Marketing Concept

A marketing concept is one that is consumer oriented, value driven, integrated, market driven and goal oriented. While this is a textbook definition, this definitely gives a generalized idea of what a marketing concept is. There are a few distinct parts of the marketing concept which helps to explain how to further understand the concept and apply it in real world setting.

First, it is key for businesses to be consumer oriented. This means that the business is aware of what the consumer’s want, at what price they are willing to pay for it and where or when they will buy it. Many consider this part of the marketing concept the research section or portion. A business that can effectively determine and analyze the needs of the market will most certainly enjoy success if they make the proper decisions based on these needs.

A value driven company means that your products are superior or at least perceived to be superior to those products in the marketplace at a similar price point. The consumer sees your service or product as being worth more than the prices charged and the amount that it costs to make the product. Value driven aspects in your marketing and business plan will allow you to make a profit easier because your customers will almost always be willing to buy your product.

An integrated concept means that all aspects of the company work well together. No single groups such as sales or accounting is too far removed from the rest of the company. By keeping the groups together, a company can make smart decisions while maintain lines of communication that are open.

A market driven company is a company that is completely married to the concept of being consumer oriented. This type of company can easily adapt to fluctuations in the market and capture a larger segment of the marketplace because of this ability. This kind of company can effectively serve customers while meeting their every need.

A goal oriented company is one that can effectively lay out both short term and long term plans. This company successfully strives to reach the goals that they set for themselves. Goals that are planned well and well thought out can help a company to complete the tasks at hand while accomplishing all of the additional aspects of the marketing concept.

Together these components of the marketing concept may seem overwhelming. However, broken down into individual tasks or sections, can help a business do the proper amount of planning in order to succeed.