Marketing Concept Cont.
Marketing S.S.S 3 Second Term
WEEK 2
Marketing Concept Cont.
Performance Objectives
Students should be able to explain:
1. The societal marketing concept
2. The consumer orientation
3. Integrated organizational efforts
4. Profit orientation
Concepts Under Which Organisations Conduct Marketing Activities
These concepts include the following:
1. The Societal Marketing concept: The societal marketing concept is believed to be the newest and latest marketing concept. The philosophy according to Kotler(1993) holds that "organisation or business establishment should determine the needs, wants and interests of target markets and deliver the desired satisfaction more effectively, efficiently than competitors in a way that maintain or improve the consumer's and society's well-being.
2. Consumer Orientation Marketing Concept
This is the marketing orientation that recognises customers as the spine and cord i.e backbone of an organisation. It sees customers as the "live wire" and "lifeblood", the heart of the business survival. It holds customers in high esteem and honours them as kings. In essence, the concept holds customers orientation that the company must define the customer's needs from the customer's aggregate points of view. That business organisations' thinking should be geared towards meeting and serving the need and wants of a market or prospective customers that have been well defined and segment. This connotes that business organisation recognize the threat and opportunities that abound and business organisation develop an effective efficient feedback mechanism with a view to being handling the yearning and concerns of unsatisfied customers and clients etc.
3. The Integrated/Coordinated Marketing Efforts
According to Packard(1982) " Marketing is too important to be left to the marketing departments alone but it supposed to be the assignment/responsibility, the preoccupation of all the departments in the organisation. Hence, the integrated/concerted marketing efforts simply connotes that to meet and satisfy the needs of customers, the various marketing functions (advertising, publicity, sales, promotion, pricing, marketing, research, product, development and distribution etc.) must be coordinated and packaged by other existing departments( administration, production, public relations, etc.).
3. Customer Satisfaction and Profit Orientation Concept
This is geared towards striving and make profits through the supply of consumer satisfaction in an effective and efficient manner. This can be achieved when business establishments/firms, accept and are ready to adequately find ways to maximize revenue and minimise cost, accept to establish a working and perfect system which knows and recognizes the sales potential and profitability of their different market segment, customer and consumer needs and wants and adopts the use of all available tools such as distribution cost, profit analysis and sales force productivity all in a bid to reduce cost with a view to profitably provide services that will give value for money.
4. The Societal Marketing Concept
The Societal marketing concept is believed to be the newest and latest marketing concept. The philosophy according to Kotler (1993) holds that "organisation or business establishment should determine the needs, wants and interests of target markets and deliver the desired satisfaction more effectively, efficiently than competitors in a way that maintains or improves the consumer and the society's wellbeing. A scholar opined that the societal marketing concept quarried the appropriateness and adequacy of marketing concept as an organisational philosophy taking into cognizance the era of environmental hazards and deterioration, scarcity and shortage of resources, the high growth rate of population/exploitation, poverty, disease etc. The concept beckons on professional marketers to equate three considerations in setting their marketing policies which are public interest or welfare, company's profit and consumer want and satisfaction.
Profit orientation
A term used to describe a business that operates under the primary objective of making money. Although most commercial enterprises have some form of profit orientation to motivate employees to maximize revenues, the most successful producers also incorporate a customer orientation into their corporate philosophy to protect the company's reputation and facilitate client satisfaction with its products.