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marketing concepta business philosophy which aims at the generation of profits by the recognition and satisfaction of customer needs.
The marketing concept emphasizes the need for a business to adopt a CONSUMER ORIENTATION, that is to start by identifying the needs of consumers and then develop products with the attributes and characteristics to meet these needs.
The marketing concept stresses the superiority of a customer-based marketing approach over a PRODUCTION ORIENTATION which is largely concerned with persuading customers to buy what the firm has chosen to produce. See INTEGRATED MARKETING, MARKETING MIX.