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How is the marketing concept related to the marketing objectives and realities that characterize the united States?
How is the marketing concept related to the marketing objectives and realities that characterize the united States?
Expert Solution
The main concept behind marketing is the exchange of goods and services by fulfilling customers' needs; therefore, the basic objective of marketing management is to maximize consumer satisfaction while maximizing profits. Marketing seeks to reconcile consumer objectives with those of the organization, making them two sides of the same coin.
Marketing objectives can include:
- Establishing a brand or product in the marketplace
- Creating an awareness and demand for a brand or product
- Emphasizing customer relationships and satisfaction
- Increasing market share and sales
In the United States, the highly competitive courier service market is one example of a marketing reality, whereby a given service is consolidated among a few top-rated companies, like DHL, FedEx and UPS. Factors that affect the relationship between the marketing concept (assessing and meeting customers' needs) and achieving marketing objectives include demographic and other structural economic changes.
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