It also creates interest of people to obtain what they actually need and want through exchanging of goods with others. Marketing gave birth to such strategies which helps in increasing sales of the business and develping the business. It creates a strong relationship with customers. In other words marketing is a process of interacting business activities and transaction. The main objective of marketing is to achieve organizational goals of the business by knowing their needs, wants and requirements in order to satisfy the customers.
The concept of marketing briefs that marketing satisfies customers’ needs and wants. Its also much broder term than selling. Marketing does both, it creates and as well as satisfies customers needs and wants. The main objective if every firm is to satisfy their customers in every way. As they say “a satisfied customer is a profitable one” (Marketing Research, 2010).
Customers Values and Satisfaction
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The basic concept of marketing is to satisfy human needs. The basic human needs that have to satisfy in any case are food, clothing and shelter. Secondly, social needs such as belonging, goodwill and affection etc and lastly, individual needs for knowledge and self-expression. These are some of the needs, which are not created by the marketer; they are natural and part of human life. People have unlimited wants but limited resources. A person always tries to make best use from the resources available to them. Thus, person has to make the choice between the products, which provides the most value, and satisfaction for their money. Customers rely on the perception in deciding what goods and products they want to purchase.
After buying the product the value attached to the product passes on to customer. This value is the benefit attached to the product, which acts as a key for satisfying the customer. If the customer re buys a particular product after using it that means the satisfactory level of the customer is higher and the value attached to the product converted his customer to a loyal customer. Product satisfies customer. If the products performance falls or changes or does not match to the customers expectations then the buyer will be dissatisfied and will not will to buy that product anymore (Kotler and Armstrong, 2001).
Marketing Through Promotion
Customer’s satisfaction is closely related to quality. If the quality remains the same the customer will demand for that good but if the quality of that good changes then it will affect the demand of that product and customer will switch to a substitute product. It is very essential for an organization to satisfy its customers. For that the firm first tries to understand their customer’s needs then makes an attempt to satisfy it. Now a day, new trends have been observed that organizations are also trying to create needs.
By doing this, the customers will get the reason to buy more and more stuff. One of the basic reason because of which customers purchase goods is, they need it. If the customers do not desired to purchase the goods then he will not buy it. Marketing not only meant to satisfy those customers (the existing one) who have needs but it also satisfy the non-existing customers, which have no need. With the help of excellent promotion of certain activities, a need of marketing can be created. Marketing introduced different ways through which an organization can promote their products. It includes word to mouth advertising, an effective title tag, through posters, pamphlets, commercial ads on television, which is also one of the most effective way to promote a product in marketing, door-to-door advertising etc.
Marketing Shapes Consumer Needs and Wants
By marketing we mean satisfying human needs, wants and demand. Critics, maintains that marketing goes beyond all this and creates wants and needs which never existed before. According to these critics, marketer always tries to convince people to spent more and more money on the stuff that they don’t need.
But I don’t think marketing shapes customers needs, wants and demand. Customers mind keeps on changing from time to time. When any new fashion enters manufacturer’s switches and starts making what customers needs (Helen, 2009).
Does marketing create needs? Thus, we can say , that marketing create needs, coz marketing deals in creating consumers need and satisfying those needs as well. Companies have different criteria and strategies in which they target different class of people. And when they define their targets they know how to attack that class of customers. In this way, they create need for their product and then they research about what that class wants and they satisfy their need as well.
Marketing plays a great role in creating good will of the product (Lynch, 2008). Summarizing, marketing spend a lot of money and effort to create goodwill of their product among the people they are targeting in order to create and satisfy consumer needs (banswer, n. d. ).
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