Question

using examples, identify and discuss the core marketing concepts needed to understand the marketing function.

Answer 1

The following are the core marketing concept which helps to understand marketing function provided with example.

1. The understanding on the needs and wants of the customer is important core marketing function, example the customer expectation of good quality products with low price strategy.

2. Marketing strategy building which means planning the marketing activities for full year is one of the important marketing strategy building. Example it includes promotion planning, customer satisfaction etc.

3. Target marketing is the core marketing concept to understand their target customers and to build competitive strategy in order to achieve the target. Example: Apple had always targeted on the high end customer.

4. Brand building is also one of the important marketing concept where in its differentiate the organization from its competitors through its specialized products and services.