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Which marketing philosophy is widely accepted and used by firms?
Wiki User
∙ 13y ago
Marketing philosophy used by a firm depends on the nature of the firm's business and its organizational objective.Different marketing philosophies may be beneficial to the same firm depending on the scenario of the industry (of which the firm is a part) and also on the current objective of the firm.For eg. if a firm plans expanding its market share,it may switch to The Production Concept.Despite these arguments the most modern philosophy is that of Holistic Marketing which is characterized by a comprehension of the various parts of marketing as intimately integrated.,the various parts being:1.Integrated Marketing2.Internal Marketing3.Performance Marketing4.Relationship Marketing.For a better perspective the chapter"Defining Marketing for the 21st Century" in Philip Kotler's book "Marketing Management" is recommended.
Wiki User
∙ 13y ago
The marketing concept is widely accepted and used by firms. This philosophy focuses on identifying and satisfying the needs of customers to achieve organizational goals. It places the customer at the center of decision-making and emphasizes building long-term relationships through customer satisfaction.
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