What is the marketing concept?

The marketing concept is a business philosophy that focuses on meeting customer needs and wants. It involves understanding their needs, finding ways to satisfy those needs better than competitors and developing a competitive advantage. It is based on the idea that achieving organizational goals depends on understanding the needs and wants of target markets, and then delivering the desired satisfaction more effectively and efficiently than competitors. Put simply, it is a customer-focused approach that prioritizes customer satisfaction as the key element to achieving organizational successes.