MANAGEMENT

Detailed explanation-1: -Businesses that use the marketing concept benefit more from marketing than companies that do not. Marketing helps a business satisfy customer wants and needs. While businesses see direct benefits from the use of marketing, individual consumers do not.

Detailed explanation-2: -how do businesses that use the marketing concept benefit more from marketing? they cater to the customer which influences the customer to buy from one company more than another. The customer will benefit from the business with this because their needs were satisfied.

Detailed explanation-3: -Businesses that do not use the marketing concept are more concerned about producing products than understanding customer needs. The “4 Ps of Marketing” are product, price, promotion, and planning. In the past, businesses expected customers to take most of the responsibility for completing marketing activities.

Detailed explanation-4: -The marketing concept rests on four pillars: target market, customer needs, integrated marketing and profitability.

Detailed explanation-5: -Marketing Concept-Custom-made furniture, doorstep delivery, online purchasing, and food menu items tailored to different regions are all examples of the marketing concept. These strategies focus on the customer’s wants and needs.