marketing concept

Definition:
Like marketing, the marketing concept has been the subject of numerous attempts at definition. Essentially, it would seem to consist of three basic elements: (a) a consumer orientation by which is meant the belief that the consumer should be the centre of all the organization's thinking and activities; (b) an orientation which seeks to coordinate and integrate all the organization's efforts towards common goals; (c) a profit orientation by which the company seeks to achieve its goals through maximizing consumer satisfaction rather than by maximizing sales. However, despite these three common features the marketing concept is sometimes conceived of as a philosophy which directs the company's thinking and sometimes as an operating policy for solving its problems. In recent years, there has been some concern that the original marketing concept is inadequate to ensure the social responsibility of the organization. To reflect this the modern marketing concept is also based on three elements: consumer satisfaction, company profits, and community welfare (the three C's).

Cross-References:

Links:

Figures: