Marketing Concept Essay Example | Topics and Well Written Essays - 1750 words

Marketing Concept - Essay Example The marketing concept is different from all the others, which include product, selling production and holistic marketing. This is because it involves coming up with products according to the needs of the customers. The others may involve the advertisements of the products after they are ready made. Therefore, it is more of the customer finding out about the firm. In the marketing concept, market research is thoroughly conducted. The firm takes an interest in finding out the needs of consumers. This concept exhibits some intrinsic qualities. It shows consideration of tastes and preferences of consumers, as opposed motivation by profit maximization. It also shows that the firm upholds ethics unconditionally. The reason behind this is that even the thing that matters the most does not stop the firm from doing what is right.The marketing concept is both advantageous to the firm and the consumers. People tend to think that the profits of a firm are only maximized by the most direct method s whose effects are immediately felt. However, this is never the case. There is a need to look at the future. The conduction of research on consumers might seem less expensive for a small firm. However, this is an extremely expensive undertaking for a larger firm. This is because large firms may be serving a wide geographical market. It may call for the use of most of the modern technologies. Therefore, this may seem like a method that is less advantageous to the firm.... People tend to think that the profits of a firm are only maximized by the most direct methods whose effects are immediately felt. However, this is never the case. There is a need to look at the future. The conduction of research on consumers might seem less expensive for a small firm. However, this is an extremely expensive undertaking for a larger firm. This is because large firms may be serving a wide geographical market. It may call for the use of most of the modern technologies. Therefore, this may seem like a method that is less advantageous to the firm. However, the exact opposite is true. First, this kind of marketing attracts more customers. This is when they realize that their interests are considered by the firm. The other advantage is long term. The firm is able to establish the wants and needs of consumers. Therefore, they come up with products that have the ability to satisfy the consumers for a long time. This ensures profit maximization. Introduction of the chosen busi ness. The principal aim of this essay is to discuss the application of the marketing concept in the real world. This can only be achieved using a live example of a firm in the real world. Therefore, it was essential to consider a company that has had a long history with this concept. For this reason, Standard Life was the ideal choice. This is an investment and long term saving business. It mainly deals with life assurance. The head quarters of this company is in Edinburgh. However, its operations occur all around the globe. Standard Life has been the principal topic of controversy for a long time. This is due to some of its policies, as well as acts. However, this company has exhibited continuous success over the years. This is