Key takeaways: Marketing definition, production concept, the product concept, selling concept, the marketing concept, The Societal Marketing Concept
What is Marketing? Marketing is the process of engaging customers and managing customer relationships by creating offerings that have superior value for them and capturing profitable value from customers in return.
Marketing? when most people think of marketing, it may come to their mind that just selling or advertising. But these things are just parts of Marketing that the Marketing Mix includes.
In the past, Marketing may be defined as “telling and selling”, but, Today, its definition has changed. Marketing is more than it, namely, creating, delivering customer value, and building a profitable relationship.
Obviously, one thing or belief that is more prevalent among big and famous companies such as Amazon, Nike, or other big brands is that being more customer-focused and heavily committed to marketing leads them to succeed in today’s market.
5 Marketing Concepts: Marketing Management Orientation
Marketing management is creating a customer value-driven marketing strategy that describes company’s target markets and how to attract, keep and extend these customers.
On the way of designing and implementing their strategies, marketing managers use different marketing concepts to engage target customers, increase sales, and have profitable relationships.
There are 5 alternative Marketing concepts that organizations adopt and execute in their marketing strategies: the production, product, selling, marketing, and societal marketing concepts. Let me introduce these concepts one by one
The Production Concept
The production concept is known as one of the old concepts and came about as a result of the rise of early capitalism in the 1950s.
This concept holds the assumption that customers will prefer products that are readily available and highly affordable. As a result, the company is focused on the improvement of manufacturing and distribution efficiency.
This philosophy was useful at a time when the competition in the market is low because the company with this concept focus on supplying more goods at a lower price instead of giving more importance to meeting their offerings with customers’ needs and wants.
Ford Motor Company can be the right example of production concept. It was the time that Ford Motor American company started selling a large number of automobiles of the same color in the market, and more people bought these cars.
The Product Concept
The product concept holds that consumers will choose the products that offer the most quality, features, and performance and do not consider availability and prices as key factors. The organisation with this concept focuses on making more continuous product improvements and innovations. Apple, Gucci can be good examples of those that follow product concepts.
Apple is a company which focus highly on product concept to create the best products to their consumers.Apple’s products perceptions are high because of great quality with innovative features and great performance. Customers go after the products of Apple and that creates a marketing pull.
The selling concept
The selling concept centered on the belief that businesses and companies should implement various promotional and marketing activities in order to achieve high sales in the market. In other cases, customers will not buy the company’s products.
With this concept, the company focuses primarily on getting short-term sales with little concern about who buys or why. Therefore, these companies can not build long-term, profitable customer relationships.
For instance, blood donations and insurance policies are involved in the category of sale concept, where the marketer believes that their job is done after making the transaction.
The Marketing Concept
The Marketing concept is based on the belief that achieving organizational goals relies on identifying the needs and wants of target customers and delivering better value to them than their competitors.
That is to say, the marketing concept starts with understanding their marketplace, concentrating on customer needs and wants, and performing all the marketing activities which deliver value and satisfaction for the customers.
The Societal Marketing Concept
The societal marketing concept focuses on implementing business activities that emphasize the importance of maintaining and enhancing both consumers’ and society’s well-being. It calls for socially and environmentally responsible marketing that meets the present needs of consumers and businesses while also preserving or enhancing the ability of future generations to meet their needs.
Door to Door Organics can be one company with societal marketing concepts. they deliver fresh, high-quality, organic, natural, and local meat, dairy, produce, and groceries directly to homes,
offices, and schools across the country.
Conclusion
These days production, product, and sale concepts are getting out-of-date in most industries; it is so hard for companies survive with this concepts in such competitive marketing. Most companies focuses on the marketing concepts that are centered on engaging and satisfying customers’ needs and wants.
Furthermore, if the company wants to survive and build profitable relationships with customers, they have to follow the societal marketing concepts that considers the societal and environmental factors of the company actions.
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