Hello aspirant,

The marketing concept involves identifying consumer needs and wants and then producing products (which can be goods, services, or ideas) that will satisfy them while making a profit. The Marketing Concept is preoccupied with the idea of satisfying the needs of the customer by means of the product as a solution to the customer's problem (needs). The Marketing Concept represents the major change in today's company orientation that provides the foundation to achieve competitive advantage.

Hope, this answer helps you.

Hi Aspirant,

Marketing Concept means that all the companies have different perception and orientation towards the business and the marketplace. They follow different philosophies of marketing. The Marketing concepts are classified into five types:

1. Production concept.
2. Product concept.
3. Selling concept.
4. Marketing concept.
5. Societal concept

The evolution of these started from a very simple idea of what customer wants and how they satisfy needs by means of product.It constantly stresses on the needs of the buyers. It focuses on the customer.Companies start by making products more efficiently from the competitors to make a place stronger in market.

Hope it helps!!