Explain the marketing concept and its importance to an organisation making particular reference to developing relationships with customers.

... Explain the marketing concept and its importance to an organisation making particular reference to developing relationships with customers. Marketing consists of individual and organisational activities that facilitate and expedite satisfying exchange relationships in a dynamic environment through the creation, distribution, promotion and pricing of goods, services and ideas.1 The main principles of marketing are to satisfy customers, target the 'right' customers, facilitate exchange relationships, stay ahead of competitors and enhance profitability. The ultimate goal is to satisfy targeted customers, seeking their loyalty and consumption. Creating good relationships with customers is an important factor. The buyer must be satisfied with the goods or service received from the exchange, and the seller must likewise be satisfied with the financial reward received in the exchange. "The marketing concept can be defined as "the philosophy that an organisation should try to provide products that satisfy customers' needs through a co-ordinated set of activities that also allows the organisation

want to read more? →