Marketing Concepts

Marketing Concept

Marketing activities should be carried out under a well-thought-philosophy of efficiency, effectiveness and social responsibility. Marketing concept or philosophy means that what will be the organization's philosophy to produce and distribute their products or services among the customer effectively and efficiently.

However, the

* The Production Concept.

* The Product Concept.

* The Selling Concept.

* The Marketing Concept.

The Production Concept:

The production concept is one of the oldest concept s in business. The production concept says that consumers will prefer those products that are widely available and highly affordable. Managers of production oriented should concentrate on achieving high production efficiency, low costs and mass distribution. They assume that consumers are primary interested on the availability and low prices of the product. It is also use when the company tries to expand its market.

The Product Concept:

The product concept holds that the consumers will favor that product that offers the most quality, performances and innovative features. Managers in these organizations focus on making superior products and improving over time. They assume that the buyers admire well-made products and can evaluate the quality and performance.

The Selling Concept:

The selling concept holds that consumers and business, if left alone, will ordinarily not buy enough of the organization's products. The organization must, therefore undertake an aggressive selling and promotion effort. This concept assumes that the company has a whole battery of effective selling and promotion tools to stimulate more buying.

The Marketing Concept:

The marketing concept says that the organization should determine the needs and wants of the target markets and deliver the desired satisfaction more effectively and efficiently than the competitors do.

The marketing concept rests on four pillars-

* Target Market

* Customer Needs

* Integrated Marketing

* Profitability

B)

Relationship Marketing:

Relationship marketing is a strategy designed to foster customer loyalty, interaction and long-term engagement. This customer relationship management (CRM) approach focuses more on customer retention than customer acquisition.

Relationship marketing is designed to develop strong connections with