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A marketing concept is a strategy that is developed with the needs of the customer in mind. In economies where consumers have a fair amount of discretionary income that can be spent to satisfy wants as well as needs, businesses usually develop marketing tools designed to attract attention and motivate consumers to choose their products over offerings by the competition. In order to develop a marketing concept that is likely to generate success in the marketplace, a company must focus on methods that identify customer needs, relate those needs to the products offered by the company, and structure a line of communication that alerts consumers to the existence of those products and the benefits they will gain by purchasing them.
Choosing the right marketing concept begins with defining consumer demographics that are most likely to find the products offered by a company attractive. For example, a company will consider defining factors such as age, gender, culture, race, and even economic background when identifying these target markets. Typically, the marketing concept will include the development of a marketing plan that actively and aggressively promotes those products to the most likely consumer demographic, while also leaving some room to reach secondary markets as well.
Once the right demographic markets are identified, the best possible marketing concept will seek to uncover more data about those desirable demographics. Digging a little deeper makes it easier to create a marketing concept that conveys the impression that the product line was created with those particular consumers in mind. Drawing on the wealth of knowledge obtained by conducting surveys and seeking input from members of that demographic help to ensure that the verbiage and images used in product promotion resonate with those desired customers and increase the chances of prompting them to actually buy the products.
A third component of the right type of marketing concept will involve building relationships with potential customers through the ad campaigns and continuing that process once consumers become customers. Here, the goal is to make sure the products are easy to use, priced in a range that consumers find acceptable, and cultivate a sense that the company cares and is accessible even after the sale is completed. Since marketing and sales efforts are ongoing, this requires inclusion of marketing elements that are aimed at upselling and keeping current customers even as efforts continue to secure new customers. When the marketing concept covers all these bases, the opportunity for a company to capture and maintain a large share of the market is enhanced, and the company can also enjoy one of the most effective means of publicity available today: good word of mouth from existing customers.