Variety in product increased after World War II where customers could afford the products that could meet their changing needs, and this concept crystallized in mid 1950s.
The marketing concept is concerned with firstly identifying the consumer needs and later making products that give maximum customer satisfaction apart from making a profitable sales volume.
Customers could afford to be selective and buy only those products that precisely meet their changing needs supported by increased discretionary income.
Focus was laid on marketing rather than selling and so the marketing executive was heading the marketing division also called as Director of marketing or Vice President of marketing. He would in turn control the top executives of production, finance and personnel.
In response to customers emphasis the organization adopted the marketing concept which includes
Focusing on customer needs before developing the product
Aligning all functions of the company to focus on those needs
Realizing a profit by successfully satisfying customer needs over the long-term
Separate marketing departments were set up to meet the consumer needs after adoption of the marketing concept by the firm managers.
It relies upon marketing research to define market segments size and their needs.
The marketing concept takes an outside-in perspective which is contradictory to the selling concept.
Marketing concept starts with a well-defined market, focuses on customer needs, integrates all the activities that will affect customers, and produces profits by satisfying customers.
Participants