Evolution of marketing concept
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Meghna Thapar 4 years ago
The marketing concept as a business philosophy is traced from its origins as a business belief where efficient production was the emphasis to the current belief which emphasizes customer needs as a means of long-run business success. The concept has evolved in a progressive fashion over the last century. There are four stages in the product life cycle: introduction, growth, maturity, and decline. Life Cycle: Firms' products progress through the stages of development, which is indicated by their changing profits over time.
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