A concept is the overall idea or structure of something and marketing is how a product is moved through a channel to reach its target consumer. A marketing concept embraces the philosophy that good marketing strategy always has the needs and wants of the target market in mind. Marketing concepts are formed as creative approaches to the problem of how to get a product needed and desired by a group of consumers to be selected and purchased by this group. The crux of good marketing is being able to communicate the benefits of the products to consumers so that they will choose the product over competitors' offerings.
Awareness of the competition is a crucial consideration when developing a marketing concept for a particular product. For example, two companies could produce canned stew that is very close in price, but if one company communicates its product better in terms of convincing potential purchasers that its brand is the better choice, that product sells better than the competitor's. In order to do that, the concept has to focus on the product’s unique selling proposition (USP).
The USP supplies a benefit to the consumer that competing products don’t. For instance, a canned stew with sweet potatoes in it rather than regular potatoes could be marketed as more nutritious and flavorful than competing stews. The product now stands out as offering something different and better than other brands. To increase the likelihood that a consumer will try the product, a coupon for the stew could be included in a print ad in a newspaper or magazine.
Although marketing communication is by its nature creative, it should always be strategic and thoughtful as well. Advertising should interest and motivate the target audience, while creating a desire for the product. For instance, some advertising attracts attention, but seconds later, the product itself is forgotten. Good marketing keeps products in the target consumer’s mind. Each marketing concept must also fit in with a company's advertising budget.
Creating fresh ideas to keep the brand relevant to the changing needs and desires of the target market is a crucial marketing concept. For example, the popularity of the Internet as a source of information for many consumers has led to the increasing number of companies that feature blogs or website logs about their products. Online advertising for products and services has also increased in order to reach the increasing computer audience.
