Marketing is the science of gathering consumer information in order to make decisions about buying a product or service. The objective is to convince the customer that a particular product or service has the greatest chance of meeting his needs. Marketing therefore refers to the strategic process by which an organization undertakes to identify its target market, develop effective communications to build trust with consumers, and acquire and maintain customer loyalty to acquire, preserve, and gain profit in return.
Developing a coordinated marketing concept is an essential requirement for a business to achieve its marketing objective. This coordinated marketing concept includes defining the message that the organization wishes to communicate to its customers, developing a plan for communicating this message, and identifying the means by which this message will reach the target consumers. It also involves defining and realizing the resources needed to deliver this message. The goal of developing a marketing concept is to make sure the marketing philosophy of the company is in line with the goals it wants to achieve.
A major hurdle for many companies when it comes to developing a coordinated marketing concept is that they don’t clearly understand their product concept or how consumers perceive and evaluate products. Most companies fail to recognize the importance of a product’s perceived value and the ability of the product to satisfy consumers’ needs. A marketing concept should therefore clearly address these concepts because if consumers are not adequately addressed, then there is no way for the company to realize its goals. Moreover, a lack of clear understanding prevents a company from measuring whether consumers are truly satisfied with the products it sells. Furthermore, a marketing concept that addresses these two issues is more likely to produce favorable results.
The concept of marketing management is largely related to the discipline of social marketing. Social marketing management seeks to improve the interaction between consumers, organizations, and other entities through the development of public policies that foster social welfare, group interest, and a sense of social belonging. It includes issues such as raising awareness about a product or service through various channels, such as advertisements, public announcements, the media, and social activities such as contests and festivals. The goal of social marketing is to devise ways by which members of society can effectively influence buying decisions made by other consumers.
Another aspect of marketing is making sure that customers get what they need and want. In this aspect, coordinated marketing is very important because buyers may not always fully comprehend what consumers’ needs are. To address this problem, the marketing concept focuses on meeting the customers needs and expectations. For instance, an auto dealer may market its vehicles through various marketing methods such as radio advertisements, print advertisements, and other media, but if it failed to meet customer needs regarding service, reliability, and safety, then the public might not buy from it.
Marketing therefore is a mix of different strategies used to promote goods and services in the market. It also involves the collection of data to improve and enhance the operation of a business. This data collection, which may be collected through surveys or interviews, will be used to develop products and services that meet consumer demands and requirements. Furthermore, effective marketing management also ensures that consumers continue to have a positive view of the brand. This means that a company promotes its products and services in a manner that maintains good consumer relationships.