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Wednesday, 19 September 2018

The Marketing Concept is likely to be Applied Under the Following Conditions

(1) There is a strong competition in the market; The marketers who creatively cater for customers needs to win a differential advantage over less insightful competitors and thereby enhance the chances of success and survival.

(2) The economy is developed to the extent that the majority of consumers have access to basic material needs of life and enjoy a standard of living; they have become more capricious and choosy and consequently are harder to woo. In such an economy,many product and services could rightly be described as frivolous.
Even when the above two conditions prevail ,such as in the USA the practical implementation of marketing concepts appears not to be as widespread as one would think.

Research in the USA suggests they the marketing concept is an idealistic policy for management and that few companies are able to implement the philosophy and make it operated on a day to day basis. Notable exception are general electricity company,Procter and McDonald's corporation which have truly imbibed the marketing concept as a guiding philosophy in their operations.

The wise marketer ,whether he operates in a protected or competitive market,is well advises to continually seek way to serve his customers better,the good will of whom is a valuable resource.