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Marketing = the process of maximising returns to stakeholders by…
Marketing = the process of maximising returns to stakeholders by developing exchanges with valued customers and creating and advantage for them
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Marketing orientation = an organisation wide commitment to researching and responding to customer needs
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involves generation of marketing intelligence in relation to current and future customer needs, competitors and collaborators
Implementation
- Use information to create satisfying new products that meet customer needs
- Establish a way to coordinate all activities with a true customer focus
- Establish an information system to discover real customers' needs
- Consider the cultural values that guide the marketing concept implementation
Marketing concept = a managerial philosophy that an organisation should try to provide products that satisfy customer's needs through a coordinated set of activities that also allows the organisation to achieve its goals
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