Marketing Concepts

Marketing has been defined as the process by which a company creates and develops its identity, advertises its product or service, and promotes the same in the market. Marketing is one of the most important activities undertaken by businesses because it determines the survival and progress of a business. It is also one of the most effective ways of influencing consumers. Marketing therefore involves the use of communication media such as print, television, radio, and the internet and the strategies used to attract and /or influence consumers to make a purchase decision. Marketing therefore also encompasses various other aspects such as research and development, financial management, sale planning, and purchasing.


Marketing has evolved from the basic concepts of advertising and selling that first originated in the industrial era. Advertising refers to any technique that is used to promote a product and/or service for the purpose of promoting sales. Selling on the other hand refers to any transaction between a consumer and a seller for the purpose of purchasing a product or service. The two concepts are very closely related but a marketing concept is much more sophisticated and comprehensive than selling and buying. Marketing therefore involves the process by which an organization establishes its identity, builds strong ties with customers, makes value in the exchange, captures and uses its customer’s future prospective, and eventually sells the product or service effectively to the targeted audience in a competitive and efficient manner.

To be able to implement a comprehensive marketing concept, organizations should first determine their goals and objectives and a plan to achieve them. Next the plans should be developed based on the identified needs of the target customers, taking into consideration various factors such as the channel of marketing (air, print, digital, or online), products and services offered, and competitive factors. Then a coordinated marketing strategy should be developed that will enable the organization to meet the needs and expectations of its customers. A key ingredient of a coordinated marketing strategy is defining the purpose of marketing and developing a strategy to achieve that purpose. Other important factors that affect the success of a marketing concept are the ability to satisfy consumers, quality management of products and services, effective use of media, and building strong customer relationships.