Wednesday, February 24, 2010

The Customer Concept of Marketing

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The Customer Concept of MarketingThis concept holds that individual customer is the key to achieving organizational objectives. Marketing is done to satisfy the needs of individual customer.
This concept has the following features:
i. Focus on individual customer needs and values.
ii. Tailoring marketing programme to the needs of individual customer. Customized marketing mix. Individualized promotion and distribution.
iii. Capture larger share of each customer’s expenditure.
iv. One-to-one marketing integration.
v. Profit through customer loyalty and retention.

Organizations collect information about the profile of each and every customer. They use e-commerce and the latest information technology. This is useful to companies selling lots of high value products. Such products need periodic replacement or upgrading together changing environment.

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