Microsoft Word marketing doc

 

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THE CONCEPT BENEFITS THE ORGANISATION 
The practice of the concept brings substantial benefits to the organisation 
that practices it. For example, the concept enables the organisation to keep 
abreast of changes. An organisation practicing the concept keeps feeling the 
pulse of the market though continuous marketing audit, market research and 
consumer testing. It is quick to respond to changes in buyer behaviour it 
rectifies any draw back in its products; it gives great importance to planning, 
research and innovation and its decisions are no longer based on hunch, but on 
reliable data relating to the consumers. It does not necessarily stick to one 
product line; it may diversify and come out with new and improved products or 
enter totally new areas of business. All these responses, in the long run, prove 
extremely beneficial to the firm. The base of consumer satisfaction guarantees 
long term financial success. 
THE CONCEPT BENEFITS THE CONSUMER 
The consumer is infact the major beneficiary of the marketing concept.
The attempts of various competing firms to satisfy the consumer put him in an 
enviable position. The concept prompts the producers to constantly improve 
their products and to launch totally new products as often as possible; it also 
prompts them to go in for changes in their business practices. All this results in 
solid benefits to the consumer low price, better quality, improved new products 
and ready stocks at convenient locations. The consumer can choose, he can 
bargain, he can complain and his complaint will always be attended to. He can 
buy on credit, cash or on installments. He can even return the goods if not 
satisfied with it. When corporations take to the marketing concept, their 
business practices change in favour of the consumer.