1.0 Introduction
It is more important than ever for businesses to imply the marketing concept. The economic downturn has lowered the survival rates for businesses. Recent statics have found “half of new businesses don’t survive beyond five years” (The Guardian, October 2014). Businesses are often unsuccessful because they fail to imply the marketing concept. “It is not enough to be product led, no matter how good the product” (Sally Dibb et al.,) A business needs to be in tune with consumers to achieve successful.
The marketing concept is a philosophy that believes businesses survive through the identification and satisfaction of the customer’s needs and wants. The principle of marketing is to satisfy customers, target the right customers, …show more content…
The Marketing concept is strongly reinforced and new principals have been put into practice prior to the economic downfall. They specialize in trailers, stocking both new and second hand. The market of second hand trailers is increasing. “While the global economic downturn has led to a fall in sales across Europe, the market for used trailers remains buoyant” (Sarah Baggott, 2009). CmPlant recently introduced a new scheme ‘trade your old trailer’. The scheme encourages customers who have bought a trailer with CmPlant within the last ten years to trade old trailer for an upgraded version. In the current financial conditions second hand trailers represent an attractive alternative to new models. To imply the marketing concept market research is carried out in order to determine the needs of the customers. CmPlant Sales frequently carry out market research helping to identify trends, population changes, competitors activity, legal development and problems can be disclosed and identify areas that customers are dissatisfied. CmPlant’s goal from market research is to have a better understanding of their market, by doing so they are able to resolve problems and make changes to the business in order to meet the wants and needs of their …show more content…
According to Hiram Barksdale and Bill Darden “the marketing concept is more important for smaller firms than larger organsations”. However, small businesses are considered to be relatively bad at marketing in comparison to larger businesses due to the lack of resources and marketing budgets available. “A commonly held view among UK scholars is that many small-business owners give low priority to marketing and regard it as “something that larger firms do”. (Charles Blankson [330], 2005) Small businesses do not market themselves as a low level of expertise in marketing can result in a basic amount of marketing, if any being carried out. Small businesses often lack in resources and expertise, having an effect on their marketing
It is more important than ever for businesses to imply the marketing concept. The economic downturn has lowered the survival rates for businesses. Recent statics have found “half of new businesses don’t survive beyond five years” (The Guardian, October 2014). Businesses are often unsuccessful because they fail to imply the marketing concept. “It is not enough to be product led, no matter how good the product” (Sally Dibb et al.,) A business needs to be in tune with consumers to achieve successful.
The marketing concept is a philosophy that believes businesses survive through the identification and satisfaction of the customer’s needs and wants. The principle of marketing is to satisfy customers, target the right customers, …show more content…
The Marketing concept is strongly reinforced and new principals have been put into practice prior to the economic downfall. They specialize in trailers, stocking both new and second hand. The market of second hand trailers is increasing. “While the global economic downturn has led to a fall in sales across Europe, the market for used trailers remains buoyant” (Sarah Baggott, 2009). CmPlant recently introduced a new scheme ‘trade your old trailer’. The scheme encourages customers who have bought a trailer with CmPlant within the last ten years to trade old trailer for an upgraded version. In the current financial conditions second hand trailers represent an attractive alternative to new models. To imply the marketing concept market research is carried out in order to determine the needs of the customers. CmPlant Sales frequently carry out market research helping to identify trends, population changes, competitors activity, legal development and problems can be disclosed and identify areas that customers are dissatisfied. CmPlant’s goal from market research is to have a better understanding of their market, by doing so they are able to resolve problems and make changes to the business in order to meet the wants and needs of their …show more content…
According to Hiram Barksdale and Bill Darden “the marketing concept is more important for smaller firms than larger organsations”. However, small businesses are considered to be relatively bad at marketing in comparison to larger businesses due to the lack of resources and marketing budgets available. “A commonly held view among UK scholars is that many small-business owners give low priority to marketing and regard it as “something that larger firms do”. (Charles Blankson [330], 2005) Small businesses do not market themselves as a low level of expertise in marketing can result in a basic amount of marketing, if any being carried out. Small businesses often lack in resources and expertise, having an effect on their marketing