Marketing concepts

all the marketing concepts included with examples

1. Marketing Concepts Presented By: Tushar Soni

2. Marketing Meaning The process of marketing is that of bringing a product to market which includes these steps: Broad market research; market targeting and market segmentation; determining distribution, pricing and promotion strategies; developing a communications strategy; budgeting; and visioning long-term market development goals.

3. Marketing Concepts Meaning Marketing concept is that view, philosophy and strategy of management which guides to the whole marketing activities. M arketing is the ‘real work’ and marketing concept is the ‘reflection of the real work’.

4. Guiding Principles of marketing Concepts Traditional Concept: 1. This concept of marketing only consists of buying and selling of products. Once the product is sold their is no relation between seller and consumer. 2. Production and sales oriented. 3. Narrow approach. 4. No place of R&D. Modern Concept: This concept of marketing contains all those activities of marketing mix by which profit is earned through customer satisfaction . Consumer oriented. Broad approach. Based on R&D. Marketing concepts are divided in two parts which are as follows:

5. Basic Concepts of Modern Marketing

6. Production Concept The idea of production concept – “Consumers will favour products that are available and highly affordable”. This concept is one of the oldest Marketing management orientations that guide sellers. Companies adopting this orientation run on a major risk of focusing too narrowly on their own operations and losing sight of the real objective.

7. McDonalds and Burger King McDonalds and Burger King, their management mainly focus on achieving operational efficiency by improving their food supply chain and training staff to serve the high demand. Although in the manufacturing concept the management produce the mass product can earn much of the revenue, however, they may become narrow in their thinking and forget the customer satisfaction.

8. Product Concept The product concept holds that the consumers will favour products that offer the most in quality, performance and innovative features. Product quality and improvement are important parts of marketing strategies , and sometimes the only part. Targeting only on the company’s products could also lead to marketing myopia.

9. Apple Apple is a well known company for its gadgets and technologies such as the great iphones. They started their iphone invention from iphone in 2007. In order for them to follow the product concept, they evolved themselves from iphone 3 gs up to iphone X. As a result, their marketing plan is getting better and better throughout the years .

10. Selling concept The selling concept holds the idea- “consumers will not buy enough of the firm’s products unless it undertakes a large-scale selling and promotion effort”. The aim is to sell what the company makes rather than making what the market wants. Such aggressive selling program carries very high risks. Typically the selling concept deals in those goods that buyers do not normally think of buying, such as insurance or online shopings .

11. Amazon Amazon is one of such sales-oriented business that attempts to sell consumers, large number of different products.  These types of businesses create products that are based on the assumption that the product will meet the needs of the business or individual, whether they have expressed a need for the product or not.

12. Marketing Concept This concept aims at “achieving organizational goals depends on knowing the needs and wants of target markets and delivering the desired satisfactions better than competitors do”. Here marketing management takes a “customer first” approach. Companies that are following the marketing concept requires to bare less risk and uncertainty.

13. Amul Companies like Amul have great success by following the Marketing concept. Amul produces goods according to consumer needs. The company regularly adds new varieties of good to it’s production house, which becomes the wants of the consumer. Therefore, Amul has been successfully operating worldwide.

14. Societal Concept This concept says that “marketing strategy should deliver value to customers in a way that maintains or improves both the consumer’s and society’s well-being”. The Societal Marketing Concept puts the Human welfare on top before profits and satisfying the wants.

15. The Body Shop Body shop is a cosmetic company found by ANITA RODDICK . The company uses only plant based materials for its products. It is against Animal testing , supports community trade, activate Self Esteem, Defend Human Rights, and overall protection of the planet. Thus Body shop is really following the concept of Societal Marketing.

16. Conclusion Thus, various kinds of companies follow different concepts of marketing based on the nature of their product and all of these companies are operating successfully without much issues.

17. Thank You