GENERAL KNOWLEDGE

Detailed explanation-1: -This concept holds that the organization’s task is to determine the needs, wants, and interests of target markets and to deliver the desired satisfactions more effectively and efficiently than competitors (this is the original Marketing Concept).

Detailed explanation-2: -The importance of marketing for your business is that it makes the customers aware of your products or services, engages them, and helps them make the buying decision. Furthermore, a marketing plan, a part of your business plan helps in creating and maintaining demand, relevance, reputation, competition, etc.

Detailed explanation-3: -The Marketing Concept. It holds that the key to achieving its organizational goals consists of the company being more effective than competitors in creating, delivering, and communicating customer value to its selected target customers.

Detailed explanation-4: -Market orientation is a strategic focus on identifying consumer needs and desires in order to define new products to be developed.