The Marketing Concept - Essay Example

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The Marketing Concept

The Chartered Institute of Marketing (CIM) has defined the concept of marketing in a different way. It suggests that marketing is a type of management process where the customer requirements are identified, anticipated and finally supplied in an efficient and profitable manner (Blythe, 2006, p. 5). Hence marketing can be considered to be consisting of a wide range of activities starting from market research to the development of a new product. Marketing is supposed to have evolved through five different phases over the past many years. They are the: a) era of trading, b) era of production, c) era of sales, d) era of marketing department, and e) era of marketing company (Perreault, and McCarthy, 2006, p. 15). The marketing company era, which is the most recent and current phase of marketing evolved as a result of the realisation of the need of different business organisations to be focused on their customers to achieve their goals and objectives. Hence, in this modern era, customer is given the highest priority in any of the marketing activities followed by the organisations. The concept related to marketing orietation is believed to have been developed at the Harvard University and in a few of the proactive and forward looking organisations during the period of the end of 1960s to the beginning of the 1970s. ...Show more

Summary

THE MARKETING CONCEPT Table of Contents Marketing Orientation and Marketing Oriented Company 3 References 7 Marketing Orientation and Marketing Oriented Company There are various ways of defining marketing as a subject or concept. According to Kotler, et al…
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