Marketing Research Versus Selling Concepts
The Internet has been the primary source of marketing news for quite some time. As such, it is easy to understand that the Internet has become the most important channel of marketing today. Marketing, therefore, refers to the act by which an organization undertakes to engaged its target audience, develop long term relationships with those audiences, and gain tangible value from the interactions to ultimately capture value at end. Marketing is also used as a way to identify prospective customers, keep abreast of changes in consumer spending trends, and facilitate communication between buyers and sellers.
Marketing has gained a lot of importance and significance over the past few years as the global economy continues to undergo dramatic changes. This has resulted in a considerable increase in the level of competition across all industries, resulting in intense price pressures, increasing levels of supply, and an overall decline in market dynamics. In order to survive in these conditions, organizations have developed marketing concepts that help them identify their customer needs and match them with resources that maximize their value at a minimal cost. While this does make sense from a business perspective, there is a certain human element attached to some of these concepts that make them less palatable to certain cultures. The result has been that some marketing concepts have been dropped or ignored altogether in favor of more practical selling concepts.
One such concept that was popular in the past is the sales concept, which outlines the fundamentals of marketing. Basically, sales concepts essentially teach consumers how to shop. It helps them understand the advantages and disadvantages of buying products and understanding the various types of marketing that they can use to gain the maximum advantage from the purchase of whatever it is they are looking for. The main selling concept is basically built around the notion that marketing research determines what works and what doesn’t within a particular market. Based on this information, a company can then tailor their sales approach to better match the needs of their target audience. The result is a higher conversion rate and increased profitability.