What is Marketing Concept

Marketing concept

The marketing concept is the philosophy originated from Adam Smith book “the wealth of nation”. This marketing concept is that business firm analyzes the need and wants of potential consumers and satisfies those need more effectively than its competitors for the accomplishment of firm’s objectives. This marketing concept has more focuses on effective satisfaction of customer then competitors. In the market, competition is the main barriers for a business firm, but its advantages to the customer. Because the customer has to get more product varieties and they can select a product which is best than other. So business firms try to provide the best products or services to the customer for beating the competition.

Marketing management is the functional department of Management that tries to design strategies that will build profitable relationships with target consumers. The marketing concept is the philosophy which is used by the business firm for building marketing strategies. 

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