The marketing concept argues that achieving organisational goals depends on which of the following? Group of answer choices Understanding the needs and wants of all consumers Understanding the needs and wants of target markets better than competitors Targeting the most valuable customers Targeting new markets with existing products
Question
The marketing concept argues that achieving organisational goals depends on which of the following? Group of answer choices
Understanding the needs and wants of all consumers
Understanding the needs and wants of target markets better than competitors
Targeting the most valuable customers
Targeting new markets with existing products
Solution
The marketing concept argues that achieving organisational goals depends on understanding the needs and wants of target markets better than competitors. This concept is based on the idea that a company can only be successful by meeting the needs of its customers better than its competition.
Here's a step-by-step breakdown:
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Identify Target Market: The first step is to identify who your target market is. This is the group of people who are most likely to buy your product or service.
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Understand Customer Needs and Wants: Once you've identified your target market, the next step is to understand their needs and wants. This can be done through market research, surveys, and customer feedback.
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Analyze Competitors: The next step is to analyze your competitors. What are they doing well? Where are they falling short? This information can help you understand how to differentiate your product or service.
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Meet Customer Needs Better Than Competitors: The final step is to use the information you've gathered to meet your customers' needs better than your competitors. This could mean offering a better product, providing superior customer service, or offering a more competitive price.
By following these steps, a company can use the marketing concept to achieve its organisational goals.
Similar Questions
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A philosophy that holds that achieving organizational goals depends on knowing the needs and wants of target markets and delivering the desired satisfactions better than competitors do.Question 25Answera.Marketing Conceptb.Product Conceptc.Sales Conceptd.Production Concept
The goal of marketing is toa.Create needs where they did not previously exist.b.Generate awareness for the organization within the market place.c.Achieve organizational profit objectives.d.Differentiate the product offering.e.Create and maintain profitable relationships with customers by delivering superior value.
Organization's task is to determine the needs & wants of target market, but at the same time they should also focus on the well-being of the society. Which orientation focuses on this aspect of marketing? A. Product concept B. Societal marketing concept C. Production concept D. Marketing concept
According to the marketing concept, while customer satisfaction is the main goal, it is also important that a business achieve its own objectives. Which of the following is one way a business can achieve its own objectives?Multiple Choicedevelop innovative goods, services, or ideasfind out what consumers desiredevelop what competitors are manufacturingwork on its promotion strategy
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