Five Important Concepts of Marketing to Help You Succeed in Business Assignments

The students enrolled in business studies are often the ones who are said to be the job creators of tomorrow. They are supposed to be experts in the business strategies and how their products would reach a greater audience. Business schools lay special focus on marketing studies, given the importance it has in any business. To ensure expertise, the schools often impose the burden of lengthy assignments on students so that they sit for long hours doing research and spend time learning the concepts. Little to their realization, the students often find it difficult to find a balance between the content of the assignments and the ever-nearing deadlines. At such times, marketing assignment help in India come very handily. 

In this write-up, we discuss some of the key concepts of marketing.

What is marketing?

A business is a setting where the customer buys a service or product from a company or an individual in return for monetary exchange. A successful establishment of a business depends on many aspects like production quality, management, and accounting. Marketing is yet another aspect of a business that decides whether a venture would be successful or not. Marketing involves that aspect of the business activities which leads to the promotion of the brand among the customers and increases the chances of financial gain of the company. Advertising the good things about a brand that would attract customers is known as marketing.

5 key concepts of marketing

Some key concepts of marketing are adopted by business organizations to drastically improve their market penetration and growth of a business. They are as follows:

1. Production: This concept emphasizes the importance of producing a huge bulk of the product. Optimal use of resources to maximize production is the key concept. The prices of the products are kept low as it would incur a greater customer inflow. However, with lower production prices, the quality of the products is compromised.

2. Product: The focus is laid on fulfilling the customer’s demand. The business focuses on creating good quality products that would hook the customers to the brand and gain their loyalty. Making products under the market requirements also gives the brand a scope of increasing market penetration and attracting new customers.

3. Selling: This concept focuses on the need to persuade customers to buy a brand’s products. This idea keeps the idea in mind that without proper marketing, the customer won’t be convinced to buy a product from the brand.

4. Marketing: This concept focuses on the need to have an edge over other competitors in the market. The customer should be drawn to buy the product from our brand because of the unique feature it has, that is lacking in other company’s products. Students often get confused between the different marketing strategies while writing their assignments. For getting their homework help, they should refer to the marketing assignment help resources.