Strategic management approach to marketing

• Main Author: Jović Mile B.
• Format: Article
• Language: English
• Published: Srpsko udruženje za marketing 2004-01-01
• Series: Marketing (Beograd. 1991)
• Subjects: marketing process; marketing concept; consumers; trade; management process
• Online Access: http://scindeks-clanci.ceon.rs/data/pdf/0354-3471/2004/0354-34710403131J.pdf

The marketing concept is not a theory of marketing, but a philosophy of business. It affirms that the key to meeting the objectives of stake-holders is to satisfy customers. In competitive manners this means that success goes to those firms which are best in meeting the needs of its customers. A business that fails to do this in a competitive economy will not survive because customers will go elsewhere. Business that are good at satisfying customer needs have the best opportunities to grow and prosper. Therefore author's standpoint regarding marketing as well as management is - the task of creating and delivering products and services that customers will value as the central task.