Question

Here are three questions for us to discuss:

1) How valid do you think the "marketing concept" is as a key to business success? Do you buy Pride and Ferrel's argument?

2) Does the "marketing concept" have any application to an individual's life? How can it be a key to personal success just as to organizational success?

3) As you "Begin with the End in Mind" for your own life, in what way could you utilize the "marketing concept" to guide your imagined picture of the end/whole of your life and the choices you will make along the way to get you there?

Answer 1

1.

It is completely valid that marketing concept is the main key to the business success. To formulate the correct marketing concepts different factors are required to be considered. To know the market trend, different research and analysis are required to be performed. To build a successful business, it is required to know the customer first. Based on the customer’s needs, the decision-making process is made which replicates the utilization of many new channels for marketing. The new marketing channels obtain the customer's feedback which helps in the product implementation process.
Yes, Pride and Ferrel's argument can be bought it will additionally help to redevelop the marketing concept and provide many alternative methods to construct the strategies for innovating an effective marketing concept.

2.

Yes, it can lead to personal success. For an example: A marketing manager has given the responsibility to sale the organizational products in the market, the manager planned accordingly and sold the product by utilizing through marketing channels. This increases the growth of the organizational products in the market and the manager appraised by the company because of the high sale value. Thus, it leads to personal success and the organization also sustains for a long-term growth.

3.

"Begin with the End in Mind" resembles each day assigned task which is correctly formulated with well marketing approach based on the scenario of the target. To patch up with the imagination picture of the end of life with the marketing concept is something challenging aspects as to mandate the picture in mind requires freedom to utilize that marketing concept in the market. The correct formulation of the imaginary picture will lead to enormous success to be defined. To make that imaginary concept worth it is required to target that concept with efficiency and proven strategies are required to be formulated with a correct decision-making process; otherwise, it will lead to hiding behind the competitive advantage which will stop to explore the imaginations. Therefore, it is required to construct the correct blueprint of the imagination in the real market by providing the correct essence of achievements.