Marketing concept
• At last, innocent customers areconsidered in marketing concept, developing the products which fulfills the needs and wants of customers is the main theme of marketing concept. Marketing is all about satisfying customers for retaining long term relationship results in long term profits.
There are five different types of marketing concepts
• Production Concept • Product Concept • Selling concept • Marketing concept • Societal Marketing Concept
The organization preaching this concept not last long because this concept ignore the other important factors like competition, new products, customer satisfaction etc. Organization most of the time compromise on quality in order to reduce the cost of the product which results in customer dissatisfaction leads towards product failure.