Marketing Concepts - 1469 Words

LIST OF SIX MARKETING CONCEPTS Following are the six concepts of marketing †¢ Production concept †¢ Product concept †¢ Selling concept †¢ Marketing concept †¢ Societal marketing concept †¢ Holistic marketing concept THE PRODUCTION CONCEPT: DEFINITION BY KOTLER: â€Å"It is the idea that customers will favor products that are available and highly affordable and that the organization should therefore focus on improving production and distribution efficiency.† EXPLANATION: This concept is the oldest of the concepts in business. It holds that consumers will prefer products that are widely available and inexpensive. Managers focusing on this concept concentrate on achieving high production efficiency, low costs, and†¦show more content†¦This helps in improving the image of the company. This concept holds that the organization’s task is to determine the needs, wants, and interests of target markets and to deliver the desired satisfactions more effectively and efficiently than competitors Additionally, it holds that this all must be done in a way that maintains and improves consumer’s and the society’s well-being. EXAMPLE: Company known for following the societal marketing concept: Johnson Johnson THE HOLISTIC MARKETING CONCEPT: KOTLER DEFINITION: â€Å"The Holistic Marketing concept is based on the development, design and implementation of marketing programs, processes and activities that recognize their breadth and interdependencies. It is thus an approach that attempts to recognize and reconcile the scope and complexities of marketing activities.† EXPLANATION: In the new marketing environment, companies wonder how to operate compete. Marketers in the current age are increasingly recognizing the need to have a more complete cohesive approach that goes beyond traditional application of marketing concepts. This concept is based on the development, design and implementation of marketing programs, processes and activities that recognize their breadth and inter-dependencies. Holistic Marketing recognizes that â€Å"everything matters† with marketing - and that a broad integratedShow MoreRelatedMarketing Concept Of Marketing Concepts1131 Words   |  5 Pages Marketing is about connecting the value of a product, service or brand to customers or consumer for the resolve of encouraging or selling that product, service, or brand. The concepts of Marketing are: Production concept, Product concept, selling concept, Marketing concept and Societal Marketing concept. Production concept: Production concept deals with production. Customer wants that product which is widely available and has a less price. Product concept: Production concept believes in customersRead MoreMarketing Concept Of Marketing : Marketing1651 Words   |  7 PagesMarketing concept Marketing plays a major function in any business organisation. The essence of marketing is about designing and managing a product and generating exchanges of value from where both the customer and the organisation can attain benefits. Marketing is the activity, set of institutions and processes for creating, communicating, delivering and exchanging offerings that have value for customers, clients, partners and society at large (Solomon, Marshall Stuart, 2009, p.13). MarketersRead MoreMarketing Concept Of Marketing And Marketing1413 Words   |  6 PagesMARKETING CONCEPT Marketing is an act of promoting and selling products or a service, this also includes marketing research and advertising. The marketing concept is the philosophy used by companies to analyse the needs of their customers so they can be better than the competition. As well as this they must also take into consideration the companies capabilities and the environment it is working in, as they can face the pressures of environmental changes. By using the marketing concept companiesRead MoreThe Concepts Of Marketing And Marketing3747 Words   |  15 PagesMarketing deals with people s emotions and feelings, it also includes knowledge about the buyer’s psychology, his motives, attitudes, as well as influences of his family, groups of friends, and culture. To increase advertisements persuasiveness, advertisers can use various means, such as the theory of cognitive dissonance The elements of the marketing process are referred to as a set of controllable tools that the firm blends to produce the response it wants in the target market The marketing processRead MoreMarketing Concept804 Words   |  4 PagesMSc. in Marketing Università © Paris 1-Panthà ©on-Sorbonne EXCERCISE PRINCIPLES OF MARKETING VATC/IAE – Broward Program Term: Winter 2012 HCMC 2012 ------------------------------------------------- CHAPTER 1 ------------------------------------------------- MARKETING’S VALUE TO CONSUMERS, FIRMS, AND SOCIETY PART 1: TRUE OR FALSE 1. Marketing is important to every consumer Answer: 2. Marketing and Selling are basically synonymous terms. Answer: 3. The marketing conceptRead MoreMarketing Concepts2095 Words   |  9 PagesMarketing Concepts MAR110 Study Period 4, 2010 SWINBURNE UNIVERSITY OF TECHNOLOGY Research Report â€Å"Marketing’s really just selling with a posh name! What’s all this about a Marketing Concept?† EXECUTIVE SUMMARY This research report aims to depict if there is any truth to the statement â€Å"Marketing is just selling with a posh name...† it also aims to illustrate the marketing concept, which refers to the second half of the statement â€Å" .....What’s all this about the marketing concept†Read MoreMarketing Concept3158 Words   |  13 PagesMarketing concept The marketing concept holds that the key to achieving organizational goals consists of the company being more effective than its competitors in creating, delivering, and communicating customer value to its chosen target markets. The marketing concept rests on four pillars: target market, customer needs, integrated Marketing and profitability. . The selling concept takes an inside-out perspective. It starts with the factory, focuses on existing products, and calls for heavy sellingRead MoreMarketing Theory And Marketing Concepts1469 Words   |  6 Pagessort of theory and concept. This assignment will be looking at the marketing theory and marketing concepts which are portrayed in the traditional marketing literature, and how they have limited application in guiding small business marketing practice. Marketing plays a vital role not only in developing, producing, and selling products or services, but also in guiding recruiting labors and raising capital. Although it can be said that successful entrepreneurs undertake marketing in unusual ways. TheyRead MoreMarketing : The Holistic Marketing Concept1392 Words   |  6 Pages Prior to this class, although I have some experience in a marketing type role, I thought of marketing as the process that was activated post product development and the vehicle to product/service promotion and advertisement to the marketplace. Through this class, I have a greater understanding of marketing, and realize promotion and advertisement is just a fraction of it, and has much more depth. Marketing begins at the beginning, and is integrated through to the end of the life cycle. It hasRead MoreMarketing Concept Report : Marketing Essay1392 Words   |  6 PagesMarketing Concept Report The world today has become a global village, and this has necessitated better marketing strategies to ensure the success of any business. Marketing has become very dynamic with many plans that are all designed to ensure a business survives in its market in this day of fierce competition. The markets have become a place of change or die, and that is why there are so many strategies such as segmentation, customer satisfaction, and consumer relationship management among other