What is the difference between concept of marketing and the marketing concept what is the relationship between concept of marketing and marketing concept?
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Answer:
The process of business initiation or growth starts with marketing. Marketing involves advertising the product or service somebody has, approaching or attracting the potential customer or prospect, getting potential customer needs and in turn modifying the product or service to suit the requirement of customer or reposition the product or service, communicate or educate the prospects about the value he may derive from buying the product. It may involve advertising in any form, communication with e-mails or letters or by post and presentation and demonstration of product. In nutshell marketing puts the customer in positive frame of mind with respect to the product. Next is the stage for selling. Selling involves showing the product to the targeted and willing customer the product on offer to suit his requirement and overcoming his objections to finally close the deal. Accrual concept states that expenses and incomes are recognised only for the period they relate not when the actually paid or received. The matching concept is an extension of the accrual concept. It states that the expenses and incomes incurred in the same accounting period must to match against each other (that is revenue recognize for this accounting period must be match against expense recognize for the same accounting period).
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