• The philosophy focuses on understanding customer needs and objectives, then making the business serve the interests of the customer rather than trying to make the customer buy what the business wants to produce.
• It exists when an organization focuses all of its efforts on providing products that satisfy its customers.
• Products are created with the goal of satisfying customers' needs and wants at a profit
• It is centered on a mutually satisfying exchange relationship.
• The concept puts the consumer at both the beginning and the end of business cycle by stipulating that any business should be organized around the marketing function and it should be one of the anticipating, stimulating and meeting consumer requirements better than competitors.
• The principle of marketing states that all business decisions should be made with primary consideration of customer requirements.
• Marketing focuses attention from production towards the needs and wants of the market place
• The marketing concept was born out of an awareness that a business should start with the determination of consumer requirements ( needs and wants) and ends with satisfaction of the same .
• Focusing on customer wants and needs so the organization can differentiate its product(s) from competitors' offerings
• Achieving long-term goals for the organization by satisfying customer wants and needs legally and responsibly.
Lellah answered the question on November 3, 2021 at 09:15
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