Question

State the pillars,on which marketing concept is based.

Answer 1

Marketing concept is based on following pillars:

(i) Identification of market or customer who are chosen as the target of marketing effort.

(ii) Understanding needs and wants of customers in the target market.

(iii) Development of products or service with the aim to satisfy the need of customers.

(iv) Providing information and making the good available to the final users.