P1 Explain The Role Of Marketing

LO1 Explain the role of marketing and how it interrelates with other functional units of an organization

P1. Explain the key roles and responsibilities of the marketing function. Marketing is the process by which individuals and groups obtain what they need and want through exchange the values with others. Marketing is an important part of business which is more than selling and advertising. According to Gary Amstrong and Phillip Kotler, the marketer have to understand the marketplace and customer needs so that they can develop their products and services then gain profit from the customer. In case, the marketer brings the similar qualities of products compare with the marketing process. Marketing concepts is in the second step of marketing process. Marketing concept is the core function of Marketing Management Orientations. It contains the marketing strategies which affect the company’s products and target markets.

The nature of Marketing Concept:

Marketing concept is strategic marketing plan

Marketing concept is designed for customer-driven strategy. Marketing concept focuses on the wants and needs of customer.

Marketing concept is oriented by marketer and customers

Marketing concept bases on the attributes of the company so that the

This production concept holds that consumers will favor products which are available and highly affordable. During the nineteenth century it was often thought that people would buy anything, provided it was cheap enough. This belief had some truth in it, since the invention of the steam engine allowed very much cheaper mass-produced items to be made. The prevailing attitude among manufacturers was that getting production right was all that mattered; this is called production orientation. This paradigm usually prevails in market conditions under which demand greatly exceeds supply, and is therefore still found in some Third World and Eastern European