5 Marketing Concepts
The marketing concept is the tactic that firms apply to satisfy customer’s need, sales increment, and maximum profit and beat the competition. Marketing Concept is the best techniques which you can grow your business, product, services & all. How can increment your marketing of brands, products, services. Here are five marketing concepts that organizations adopt and execute.
- Production Concept
- Product Concept
- Selling Concept
- Marketing Concept
- Societal Marketing Concept
Production concept is the first marketing strategy which provides what consumers need. Consumers select products that are generally available and inexpensive. The production concept can show the way to marketing myopia. Managing Director Focuses on this concept concentrate on achieving high production efficiency, low costs, and mass distribution. A large amount of the cheapest goods, holistic marketing concept and sales. They focus on improving production and distribution efficiency.
Product Concept is the second strategy which offers the most quality, performance, or innovative features. It holds that the consumers will favor products that offer the most in quality, performance and modern features. This concept supposes in the consumer and it says the consumers are more likely to be loyal if they have more options of products or they get more benefits from the product of the company
Selling Concept is an essentially mirrors that consumers will not purchase enough of the company's products unless large-scale promotional and selling efforts are carried out by it. Selling concept marketing assumes that customers will be coaxed into buying the product will like it, if they don’t like it, they will possibly forget their disappointment and buy it again later. This is usually very poor and costly assumption.
The selling concept hold the idea “consumers will not buy adequate of the firm’s products unless it undertakes a large-scale selling and promotion effort”.
The marketing Concept is the strategy that firms implement to satisfy customer’s needs, increase sales, maximize profit and beat the competition. This concept under the customer focus and value are the routes to complete sales and profits. The marketing concept is a customer-centered “brains and responds” philosophy. The Marketing Concept is suitable for almost any type of product and market. Focus of the marketing concept starts at understanding the market. The job is not to find the right customers for your product but to find the right products for your customers. It works on facts gather “markets and customer first” advance.
Societal Marketing Concept
The societal marketing is a marketing concept that holds that a company should make marketing decisions not only by considering consumers' wants, the company's requirements, but also society’s long-term interests. This Concept put the individual benefit on top before income and fulfilling the wants. Societal marketing concept has been evolved from big concepts of CSR and sustainable development and implement by several companies to progress their public image through activities of customer and social welfare.