The Marketing Concept

The marketing concept requires organisations to put customers and their needs at the core of the business. This philosophy implies that organisation can achieve their objectives and survive in the long-term by satisfying customers’ needs and wants (Jobber et al., 2012). Therefore, implementing this approach means to match the company’s capabilities with the requirements of specific market segments (Riley, 2012). This approach is based on an ‘outside-in perspective’ (Jobber et al., 2012) whose idea is to organise all company’s activities around customers and their needs. Embracing this vision means that marketing becomes not only an activity through which acquiring and analysing information on consumers’ trends and habits, but also a means to provide input to all other areas within organisations. In additions, decisions have to be taken with reference to the components of the marketing mix (product, price, promotion, place).

In terms of strategies, industrial and consumer markets require the implementation of different methods and techniques. In B2B markets, products are more complex and may require higher level of customisation. Within these markets buyers are experienced and the purchase is likely to be evaluated in light of the potential return of investment. In this case, organisations should stay as closer as possible to their customer and make sure account management teams have the right technical knowledge to understand customers’ requirements and propose possible solutions.

In terms of price, negotiations are more likely to happen in B2B markets than in B2B ones and organisations may be asked to participate to bids. Promotion also presents some differences; with industrial buyers advertising may fail to reach the influencers of purchasing decision, while this would be possible in B2B markets.

How does the experience of the buyers (industrial/consumer) influence the decision-making process during the purchase phase and what are the consequences for marketing strategies?

References

Jobber, D. and Lancaster, G. (2012) Selling and Sales Management. Nineth Edition. Harlow. Pearson Education

Riley, J. (2012) Marketing Concept & Marketing Orientation. Online at [accessed 21 February 2014]

This entry was posted in Uncategorized. Bookmark the permalink.

Leave a Reply

Your email address will not be published. Required fields are marked *