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    Marketing Concept

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    Lovely Srivastava
    The document outlines different marketing philosophies, from traditional to modern concepts. The traditional Production Concept focuses on mass producing standardized products at low costs. The Product Concept centers on product improvements but neglects other customer needs. The Selling Concept treats customers as passive and in need of persuasion. The modern Marketing Concept meets customer needs through superior value. The Customer Concept recognizes sophisticated, individual customers. The Societal Marketing Concept emphasizes corporate social responsibility and environmental sustainability.

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    Attribution Non-Commercial (BY-NC)
    Download as PPT, PDF, TXT or read online from Scribd

    Marketing Concept

    Uploaded by

    Lovely Srivastava
    170 views11 pages
    The document outlines different marketing philosophies, from traditional to modern concepts. The traditional Production Concept focuses on mass producing standardized products at low costs. The Product Concept centers on product improvements but neglects other customer needs. The Selling Concept treats customers as passive and in need of persuasion. The modern Marketing Concept meets customer needs through superior value. The Customer Concept recognizes sophisticated, individual customers. The Societal Marketing Concept emphasizes corporate social responsibility and environmental sustainability.

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    marketing concept

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    The document outlines different marketing philosophies, from traditional to modern concepts. The traditional Production Concept focuses on mass producing standardized products at low costs. The Product Concept centers on product improvements but neglects other customer needs. The Selling Concept treats customers as passive and in need of persuasion. The modern Marketing Concept meets customer needs through superior value. The Customer Concept recognizes sophisticated, individual customers. The Societal Marketing Concept emphasizes corporate social responsibility and environmental sustainability.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PPT, PDF, TXT or read online from Scribd
    Download as ppt, pdf, or txt
    170 views11 pages

    Marketing Concept

    Uploaded by

    Lovely Srivastava
    The document outlines different marketing philosophies, from traditional to modern concepts. The traditional Production Concept focuses on mass producing standardized products at low costs. The Product Concept centers on product improvements but neglects other customer needs. The Selling Concept treats customers as passive and in need of persuasion. The modern Marketing Concept meets customer needs through superior value. The Customer Concept recognizes sophisticated, individual customers. The Societal Marketing Concept emphasizes corporate social responsibility and environmental sustainability.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PPT, PDF, TXT or read online from Scribd
    Download as ppt, pdf, or txt
    of 11

    MARKETING PHILOSOPHIES

    Traditional concept Modern concept

    The Production concept The Marketing concept


    The Product concept The Consumer concept
    The Selling concept The Societal Marketing concep

    CHAPTER1 SUDHIR SINHA, UIT 12/08/21


    The Production Concept
    2

    This concept states that customer want basic products that


    are mass produced, widely available and at the
    lowest price.
    The belief is that “One Size Fit All”

     Company must create standard products which can be


    mass produced
     Companies need to emphasize production efficiency
    and achieving economies of scale.
     Mass distribution of products is the key to success.

    CHAPTER1 SUDHIR SINHA, UIT 12/08/21


    The Production Concept
    3

     This philosophy, though not popular today, would still


    be relevant for very basic commodities such as salt,
    public utilities like water and electricity and
    mass urban transportation.
     This orientation is still relevant in developing
    economies, where standard of living is lower, and
    large population is the first time consumer of even
    basic products like soaps, toothpaste etc.
     The vast rural economy of India is one such
    market.

    CHAPTER1 SUDHIR SINHA, UIT 12/08/21


    The Product Concept
    4

    The companies which are guided by this


    philosophy believes that:

     Companies favour products that are


    highly engineered
     Customers favour products that are of
    the highest quality
     Customers are interested in innovative
    products

    CHAPTER1 SUDHIR SINHA, UIT 12/08/21


    The Product Concept
    5

     Companies become centered on


    constantly improving the product

     Myopic focus on the product


     No attention on the other ways in
    which customers can fulfill their needs
    – MARKETING MYOPIA

     Customer does not buy a product, he


    buys an offering that fulfills his needs

    CHAPTER1 SUDHIR SINHA, UIT 12/08/21


    The Selling Concept
    6

    Companies that are guided by this


    concept believes that:
     Customers if left alone, exhibit buying
    inertia
     Customers have to be coaxed and
    cajoled into buying products
     Companies must invest heavily in
    aggressive selling and
    promotion.

    CHAPTER1 SUDHIR SINHA, UIT 12/08/21


    The Selling Concept
    7

    Product or service is not designed and made


    according to customer’s requirements
    Customer has to be persuaded to believe that the
    product or the service meets his requirements
    Customer dissatisfied and bad-mouths company
    Marketing makes selling redundant

    CHAPTER1 SUDHIR SINHA, UIT 12/08/21


    The Marketing Concept
    8

     This concept states that only those companies which are more effective
    that competitors in creating, delivering and communicating
    superior customer value to its chosen target market, will be successful
    in meeting their organizational goals.
     The marketing concept of doing business rests on five pillars
     Target markets
     Understanding customers needs
     Creating products to satisfy those needs
     Integrated marketing to deliver those products to customers
     Profitability through customer satisfaction

    CHAPTER1 SUDHIR SINHA, UIT 12/08/21


    Marketing v/s Selling
    9

    CHAPTER1 SUDHIR SINHA, UIT 12/08/21


    The Customer Concept
    10

    It is essential the refinement of the market concept,


    additionally recognizes the following changes that have
    occurred in many parts of the developed countries.
     Knowledgeable and sophisticated customers today
    have highly individualized want and want customized
    solutions.
     Wide penetration of broadband connectivity and access to
    internet through variety of handheld devices.
     Advent of electronic payment mechanisms to support
    financial transactions
     The internet and CRM technologies have enabled
    companies to capture real time data about individual
    customer and to track their preferences, purchases and
    usage pattern over time.

    CHAPTER1 SUDHIR SINHA, UIT 12/08/21


    The Societal Marketing Concept
    11

     As the companies expand their global reach,


    and as the economic demands on the
    environment intensify, the level of societal
    suspicion about the big business is increasing.
     Corporation like Sony and Microsoft, leaders
    in gaming industry have come under severe
    criticism at it is believed that their very popular
    games glorify and promote violence.
     Companies that practice this concept take their
    Corporate Social Responsibility (CSR)
    very seriously to prove good corporate
    citizenship.

    CHAPTER1 SUDHIR SINHA, UIT 12/08/21

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