Market Concept

(noun)

the generation of appropriate market intelligence pertaining to current and future customer needs, and the relative abilities of competitive entities to satisfy these needs; the integration and dissemination of such intelligence across departments; and the coordinated design and execution of the organization's strategic response to market opportunities.

Related Terms

Examples of Market Concept in the following topics:

  • The Marketing Concept

    • The marketing concept states that an organization achieves goals by knowing the needs and wants of target markets and delivering the desired satisfactions.
    • The marketing concept holds that achieving organizational goals depends on knowing the needs and wants of target markets and delivering the desired satisfactions.
    • The marketing concept centers on market orientation.
    • The attempt to define the concept of market orientation has led to a number of arguments in the academic field.
    • Market orientation is implementation of the marketing concept, which is a particular business philosophy.

  • The "Creative Concept"

  • Strategy v. Concept

  • Strategy-Based Ad Concepts

  • Ad Concepts

  • Presenting Commercial Concepts Effectively

  • Presenting Digital Ad Concepts Effectively

  • Holistic Marketing

    • The holistic marketing concept looks at marketing as a complex activity and acknowledges that everything matters in marketing.
    • The holistic marketing concept looks at marketing as a complex activity and acknowledges that everything matters in marketing.
    • The four components that characterize holistic marketing are relationship marketing, internal marketing, integrated marketing, and socially responsive marketing.
    • The concept marks a constant progress from the simple coordinating of promotional tools to a complex strategic process.
    • Synthesize relationship, internal, integrated and socially responsive marketing concepts into a broad and integrated holistic marketing perspective

  • Concept Testing

    • Concept testing is important for evaluating consumer responses to a product before market introduction.
    • Concept testing is the process of using quantitative and qualitative methods to evaluate consumer response to a product idea prior to the introduction of a product to the market.
    • Advertising professionals create concepts and communications of these concepts for evaluation by consumers, on the basis of consumer surveys and other market research, or on the basis of their own experience as to which concepts they believe represent product ideas that are worthwhile in the consumer market.
    • The relative importance of the factors responsible for or governing why consumers, markets and market segments reacted differently to concepts presented to them in the concept tests were not demonstrated.
    • Nor did the traditional methods quantify the relationships between concepts and existing products offered in the same consumer market.

  • Social Marketing

    • Social marketing is the systematic application of marketing to achieve specific behavioral goals for a social good.
    • Social marketing is the systematic application of marketing, along with other concepts and techniques, to achieve specific behavioral goals for a social good.
    • Social marketing is sometimes seen only as using standard commercial marketing practices to achieve non-commercial goals.
    • The marketing of sustainable ideals has come to the forefront of social marketing in recent years.
    • Define the concept of social marketing, its application and impact on society