Author Topic: Different Concepts of Marketing  (Read 3406 times)

shibli

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Different Concepts of Marketing
« on: February 26, 2018, 06:38:19 PM »
Production Concept
Consumers and customers love to buy those products that are available and fairly affordable. This concept is one of the oldest concepts of Marketing management that guide sellers.

Companies taking this concept run the risk of focusing too narrowly on their own operations and losing sight of the real objective.

Management focuses on improving production and distribution efficiency. In some cases the production concept is still a useful concept.

Product Concept
Consumers and customers will buy those products that offer the best in quality, performance and features.

Here Marketing strategies focus on making continuous product improvements.

Selling Concept
Customers and consumers will not buy enough of the company's products unless they take huge promotion effort.

Here the marketer focuses on creating sales rather than on building long-term, profitable customer relationships.

In other words;

The target of the company is to sell what the company wants rather than what the market wants. Such aggressive selling program carries very high risks.

Marketing Concept
The marketing concept holds identifying customers needs and wants and satisfying them by delivering superior value and making lasting, profitable relationship and thus achieving the company's goals and objectives. 

Societal Marketing Concept
It is sustainable marketing and environmentally responsible marketing that meets the present needs of consumers and businesses while meeting the needs of the society without destroying its environment.

It puts the Human welfare on top before profits and satisfying the wants.