MARKETING CONCEPT A BUSINESS ORIENTION

MARKETING CONCEPT, A BUSINESS ORIENTATION:

è The field of consumer behaviour is rooted in the marketing concept, a business orientation that evolved in the 1950s through several alternative approaches toward doing business referred to respectively: -

1) The Production Concept.

2) The Product Concept.

3) The Selling Concept.

4) The Marketing Concept.

5) The Societal Marketing Concept.

1) THE PRODUCTION CONCEPT:

ð The production concept assumes that consumers are mostly interested in product availability at low prices; its implicit marketing objectives are cheap, efficient product and intensive distribution.

ð It makes sense when consumer are more interested in buying what’s available rather than wait for what they really want.

ð The main objective is to expand the market.

2) THE PRODUCT CONCEPT:

ð The product concept assumes that consumers will buy the product that offers them the highest quality, the best performance, and the most features.

ð It ensures the company to improve the quality of its product and add new features.

ð The product concept often leads to “marketing myopia” that is focusing on the product rather than the customer needs.

3) THE SELLING CONCEPT:

ð The assumption of the selling concept is that consumers are unlikely to buy the product unless they are aggressively persuaded to do so – mostly through “hard sell” approach.

ð The problem in this concept is that it fails to satisfy a customer.

ð Promotion can be done through advertisement, sales promotion and public relation.

ð Today the selling concept is utilize be marketers of unsought products – that is which people are not willing to buy it (such as life insurance).

4) THE MARKETING CONCEPT:

ð It started in 1950’s when some marketers realized we can sell more products by determining what consumer would buy.

ð Consumer need and wants became the firm’s primary focus.

ð The marketers should made product what t can sell, instead of what it has made.

STARTING POINT FOCUS MEANS ENDS

SELLING CONCEPT

Factory à Product à Selling & Promotion à Profit through sale volume

MARKETING CONCEPT

Market à Needs à Marketing à Profit via customer satisfaction

 

5) THE SOCIETAL MARKETING CONCEPT:

ð Developing that product which benefits the society. Doing marketing in such a way that it helps you in increasing your production & also giving benefits to society.

ð The organization should determine the needs, wants and interest of target markets and deliver the desired satisfaction more effectively and efficiently then do competitors in a way that maintains or improves the customers and society’s well being.