Marketing Concept:

Holds that the key to achieving organizational goals consists in determining the needs and wants of target markets and delivering the desired satisfactions more effectively and efficiently than competitors.

Marketing concept focuses on the needs of the buyer and argues that all marketing decision-making should start by understanding the target consumer. It takes the view that consumers are the most important stakeholders in the organization. This does not mean that the customer is always right but rather that he (customer) forms the starting point for the organizations corporate strategy. With this concept marketing is seen as an activity that is so important in the organization that it cannot be left to the marketing department only-everybody in the organization must think to serve the consumer.

The marketing concept is therefore a market focused, customer oriented co-ordinated marketing effort aimed at generating customer satisfaction as the key to achieving organizational goals.