What is the marketing concept? According to the marketing concept, what determines if a sale will actually occur?
- Name and describe the four marketing management philosophies.
- List and describe the three levels of ethical development.
For every home built by Habitat for Humanity, Whirlpool Corporation has given and continues to give free kitchen appliances to the deserving family. At first Whirlpool gave the appliances with no promotion, then Whirlpool began talking about its philanthropy in its advertising campaigns. Is this unethical behavior according to the pyramid of social responsibility?
Assume you are the president of a company that manufactures wooden bowls, cutting boards, and spoons. Your company is considering marketing its kitchen items globally. List the five important external environmental factors that should be examined for each country you are considering for this global venture.
What is a marketing channel? What type of business make up a marketing channel?
- Name and briefly define three forms of product advertising.
- List in order the four steps used to set the right price for a product.
A marketing concept is a philosophy requiring an analysis of the customers needs to be carried out by firms and then decisions derived to ensure that the identified customer needs are satisfied better than competition. For firms to better understand the concept of marketing, they have to first understand the concept of production, the concept of sales, and the concept of marketing.
With regards to the marketing concept, to determine if sales actually occurred, understanding the existing difference between marketing and selling is considered appropriate. Selling involves the act of persuading an individual to buy a valuable commodity while marketing is the aspect that supports the efforts of selling the valuable commodity. According to the marketing concept, a sales occurrence is determined by the existing customer demand regarding the satisfaction of a commodity.
Marketing Management Philosophies:
There are different marketing management philosophies which are put in place to offer guidance to sellers while they carry out their marketing activities. Hence assisting in cost reduction and focus on the process of increasing the quality of a product. the philosophies include production, product, selling, and marketing. The production philosophy includes the fact that supply can be able to create its own demand meaning that sales increase automatically with the production and distribution facilities.
The product concept on the other hand states that the sellers have the responsibility of increasing their product?s quality with an aim of performance improvement through addition of innovative features on a product. this will later result to customer attraction through effective commodity prices allocation, quality as well as performance improvement. Packaging and employment of effective distribution channels are also employed as a tactic of customer attraction.
The selling philosophy is also employed which involves the selling of a commodity that the customers either like or they do not like. This is however associated with the high risk since the commodity can spoil plunging an organization into losses instead of selling the commodity and generating revenues.
The marketing philosophy requires that the organization analyses the needs and wants of the target market and find ways of ensuring that their desired satisfaction is provided effectively compared to the competitors in the market. this philosophy requires that the needs and wants of a customer have to be satisfied after a market is defined and in the long run, an effective customer relationship becomes created (marketing management philosophies, ...
This solution discusses the marketing concept, multinational corporations (MNCs), marketing channels, and customer relationship management (CRM) techniques.