Marketing Management Philosophies / Concepts.

Marketing Management Philosophies - 5 Core Concepts
Marketing Management Philosophies.



1. Production Concept: Some companies believe that it is easy to sell the product when the product is inexpensive and easily available. So the firm's following production concept focus on lowering the cost of production by means of mass production and distribution but the drawback of this concept is that customers don't always buy products that are inexpensive and available.

"Main Focus: Large scale production to decrease the cost."

2. Product Concept: Firms that follow the product concept propose that the way to realize the business goal is by making products that are of high quality. these firms manufacture the products of superior quality but they must keep in mind that customers will by high quality only when they need to want it the only quality is not enough Force. for example of the firm is dealing with a very high-quality hair dye but the customer will demand is only when they've grey hair.

"Main Focus: Good quality, added features in the product."

3. Selling Concept: The forms with following the selling concept believe that in order to make a customer buy a product he or she needs to be convinced and customers can be convinced by understanding some aggressive selling and promotional efforts.  with selling concept the firm can make a customer buy something even when the customer has no intention of buying it. firms relying on selling concepts make use of advertising power and other persuasion techniques to influence the customers.

Related: https://www.millionsbusiness.com/2020/03/five-simple-ways-to-increase-your.html

The selling concept can be summed up in the statement "selling what you have" so under this concept the product is sold by Hook or Crook. selling concentrates on the requirement and needs of Producers and sells whatever is produced. they do not try to find out the requirements or needs of the customer. selling release on buyer manipulation. and selling the primary motive of the seller is to convert the goods into cash by using fair and unfair tactics.

The firms following the selling concept must know that they cannot be manipulated much time. The customer one wrongly convinced can spoil the image of the firm. So selling can succeed in the short run and not in the long run.

"Main Focus: To sell whatever is produced by using intensive promotional techniques."

4. Marketing Concept: The Marketing concept concentrates on the needs of the customers. this concept that product design is produced keeping in mind the need of the customer and try to satisfy the needs better than the competitor according to marketing concepts the customer satisfaction is a pre-condition for realizing firms goal and objectives.  under Marketing concept for don't sell what they have but they produce and sell what customers want.

Following are the pillars of the Marketing Concept of the process of Marketing concept:

(i) Identification of market or customers who are chosen as the target market.

(ii) Understanding the needs and wants of the customers in the target market.

(iii) Developments of products or services for satisfying the needs of the target market.

(iv) Satisfying the needs of the target market better than the competitors.

(v) Doing all this at a profit.

The firm's adopting the Marketing concept gives importance to two important market forces. These are the customers and competitors as the firms keep a close eye on the needs and wants of customers and try to satisfy these needs better than their competitors. 


Relate: https://www.millionsbusiness.com/2020/03/5-reasons-why-99-startups-fail_46.html

Maintaining a constant vigil on the customer is called customer- orientation and constant vigil on competitors is called a competitor- orientation.

"Main focus: Customer Satisfaction."

5. Societal Concept: Although the Marketing concept satisfying the need of the customer in the best possible manner then also it has attracted criticism from people who are concerned about society and the environment. they argue that companies should not blindly follow the goals of customer satisfaction. this may lead to many social and environmental is for example a customer may want to have drugs so just to satisfy customer the firms should not supply him drugs. some products bring harmful effects on the Environment so these should not be supplied only to fulfill the goal of customer satisfaction. customer satisfaction must be within the ethical ecological aspect of our society.

"Main focus: Customer Satisfaction within the ethical and ecological boundaries of your society."

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