The Marketing Concept and Its Relation to Marketing Myopia Essay (Essay Sample)

The Marketing Concept and Its Relation to Marketing Myopia
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The Marketing Concept and Its Relation to Marketing Myopia
Marketing refers to a matching method utilized by businesses to align their capabilities with clientele wants and demands at the appropriate time, place, and price. The marketing concept, which is also known as the right principle, dictates offering the apt product, idea, or service to the rightfully identified people utilizing the precise mechanism at the right time and place. On the other hand, marketing myopia merely is prioritizing selling products without primarily meeting the clients’ needs or demand or even concentrating on cultivating a rapport for future sales. Marketing entails unearthing client wants and needs and exchanging then with company products or services that meet or surpass these needs and wants while concentrating on cultivating loyalty for future sales.
The marketing concept works around the right principle. Companies utilize data to zero in on customers’ needs and desires to provide quality products that not only meet these needs and wants but also create a rapport with the same clients and concurrently meet organizational goals and objectives (Belanche, Casaló & Guinalíu, 2013). In line with the right principle, companies solely apply the marketing concept after efficaciously gathering data and comprehending customers’ wants. Subsequently, the company produces the right products or offers the right services to satisfy these needs. Therefore, the marketing concept primarily focuses on clients as opposed to sales. Focusing on customers creates organizational differentiation due to the production of products that stand out from those of competitors by offering value to customers (Belanche, Casaló & Guinalíu, 2013). Thus, such an organization enjoys an upper hand, or competitive advantage, leading to not only meeting these needs but also building a rapport with clients and more sales for concentration on customer service.