Marketing Concept Essay

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Assignment 2: Marketing Essay Name: Ken Doan Student Number: 10334521 Unit: MKT1100 Marketing Concept Name: Ken Doan Student Number: 10334521 Marketing is “The management process responsible for identifying, anticipation and satisfying customer requirements profitably” (Needham, Guy, Show, Dooley & Dransfield, 1999). The concept of marketing has evolved over the last years, marketing reflects to the key approach to doing business. The organisations objective is to make profit, to do this they have to consider the marketing concept and to do so they must satisfy customers and for organisations to be successful, they should divert its attention away from particular products and towards the interest of the customers. Customers changing their needs and wants influence an organisations strategies and plans. Meeting customer’s needs is the main key in marketing. The definition explores that the customer is at the centre of the organisations activity. “Marketing consists of individual and organisational activities that facilitate and expedite satisfying exchange relationship in a dynamic environment through the creation, distribution, promotion and pricing of goods, services and ideas.”(Dibb, Simkin & Ferrell, 2001) Understanding customers and anticipating their requirements is a core theme of effective marketing, for a business to be successful it requires satisfied customers who return to the business to provide additional custom. For an organisation to provide successful profit making product, for example, the Nokia mobile phone company, needs to ask itself “weather they could provide a mobile phone that is different from other mobile phones,’ to be successful this is the main aim for Nokia to provide customers with a mobile phone with additional features such as a digital camera that is built in the phone, rather than having an

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