Question designing strategies that will build profitable relationships with

 Question 1

Marketing
management orientation are unlike marketing concepts that effort on various
concepts to create, produce and market products to customers. It focuses on designing
strategies that will build profitable relationships with target consumers. All
of customers need more effectively, we should avoid strategic mistakes to
achieve higher and should uncover opportunities before competitors and should
implement emerging techniques in the concept of marketing orientation. These
all of the facts are importance of marketing management orientation.

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These are
five alternative concepts under which organizations design and carry their
marketing strategies.

1.       The production concept

2.       The product concept

3.       The selling concept

4.       The market concept

5.       The societal marketing concept.            

The
production concept

 In the production concept, we need to get a
wide range of customers. Most of the consumers like cheaper and good quality
products. Therefore, can increase production and cut down costs and build
profit through volume. This production is useful through volume. This
production is useful philosophy in some situations. Most of the managers focus
to get high production efficiency, low cost and mass distribution.

The
product concept

Most of
the consumers want the most quality or innovative features. They use a lot of
time and research in order to target their attended audience. Product concept
is a high level statement of the value of a product or service. It focuses save
customer’s time and make things easier, to get pleasing and productive to use
and to become fair-price.

The
selling concept

The
selling concept holds that consumers will not buy enough of the firm’s product
unless it undertakes a larger scale selling and promotion effort. In selling
concepts involves inside and outside scales people who work with the typical
customer-the distributor or wholesaler. Focus is more on selling the products
of the company to customers without comprehending the market needs and
increasing scales transactions rather than building and enhancing relationships
with customers.

The market
concept

The market
concept holds that achieving organizational goals depends on knowing the needs
and wants of target delivering the desired satisfactions better than
competitors do. It focuses of the marketing concept starts at understanding the
market. The marketing concept trusts on marketing research to define market
segment, their size and needs. It is fit for almost any type product and market

The
societal marketing concept

Societal
marketing is a concept which is a supplement to CSR and sustainable development
direct towards image building and long-term customer relationships. It focuses
shifts from transaction to relationship. It maintains long-term relationship
with customers. It helps to construct a better image of the company.
Management’s interest’s and preferences are depended on the marketing
management orientation a company chooses and applies.

Question 2

CRM
is the transformation of people, process and technology required to become a
customer-centric organization. The changes in marketplace and technology, it is
becoming more and more challenging for many companies to have long term
customers and stay competitive in the market. CRM deals with all the
interactions between a company and its customers, with an eye toward keeping
customers happy and helping the business succeed. CRM helps a company offer
better customer service, which in turn supports increased revenue. CRM can
increase customer service level, improve efficiency, simplify marketing
process. CRM can lead to more cost effectively marketing, avoid expense of mass
marketing. CRM must focus in selecting and managing customer value and loyalty
through a long-term relationship.

            Customer
perceived value is the difference between the prospective customer’s evaluation
of all the benefits and all the costs of offering and the perceived alternatives.
Customer’s evolution of the difference between all the benefits and costs of a
marketing offer relative understand customer perceived valve, we need to know
about value proposition. The importance of customers perceived valve is regardless
will always base their purchasing decisions based on the perceived value of the
product or service that we offer. For example, if we give same money Private
hospital and public hospital, private hospital gives full facilities and
services. Nowadays, most of the people choose the private hospital.

Customer
satisfaction is a marketing term that measures how products or services supplied
by a company meet. Customer satisfaction depends on the product’s perceived
performance relative to a buyer’s expectations. Customer satisfaction is
important because it provides marketers and business owners with a metric that
they can use to manage and improve their business. Example-Private hospital
give full facilities and service and can feel clean, hygienic. So, customer
feel full customer satisfaction.

 

 

           

Question 3

The
importance of social responsibilities and ethics

A
social responsibility is vital to a business. It shows to both consumers and
the media that the company takes an interest in broader social problems that
have no direct impact on revenue. Corporate social responsibility goes hand in
hand with social responsibility practices. CSR can increase with globalization
as both investors and customers have become very sensitive to societal and
environment. These efforts can range from donating money to nonprofits to
implementation environment friendly policies in the workplace people and
organizations need each other. Social responsibility to employees stand beyond
because can better brand recognition, increased sales and customer loyalty, better
financial performance and easier access to capital. Social responsibility in
marketing is important because the practice involves focusing efforts on attracting
consumers who want to make a positive difference with their purchases.

Ethics
are vital in business. It is a collection of principles of correct conduct that
form the choice that people. Good business ethics are essential for the
long-term success of an organization. A company’s ethics will become an effect
on all levels of business.  Ethics look
at ethical philosophy, moral and ethical rights, duties and corporate authority
between a corporation and its shareholders; workers, clients, media, government
and provider. Ethics are linked to all discipline of organization accounting information,
human resource management, scales and marketing global business and financial
system. The importance of ethic influence and contribute, employee commitment,
can solve legal problem, cost control, can build relationships with shareholders,
can attract customers to the firm’s product, thereby boosting sales and
profits, can protect the image the organization, can regain the power granted
by society.

 

https://www.marketing91.com/concepts-of-marketing/

https://ascendnaamba.org/papers/marketing-concepts-3893

https://iedunote.com/marketing-concept

https://www.feedough.com/marketing-management-philosophies-five-marketing-concepts-with-infographics/

https://www.coursehero.com/file/pif4pm/These-are-usually-poor-assumptions-The-marketing-concept-holds-that-achieving/

https://www.flashcardmachine.com/marketing-chapter-11.html

5 Important Concept of Marketing Management Philosophy

 

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