Five Marketing Management Philosophies

The concept of selling focuses on the large scale selling and promotion activities in order to attract more customers. There are various industries which sell products that buyers do not normally think of buying. Therefore in order to attract such buyers, these organizations have to practice the selling concept. There is high risk in such marketing because the organizations try to sell the product whether the buyers like or not. Therefore, if the buyers do not like the product then it can really spoil the reputation of organization.

• Marketing Concept

According to marketing concept, organizations should focus to analyze the needs and wants of target market and provide the desired satisfaction more effectively than competitors do. Most people mix marketing concept with selling concept but there is difference between the two. Selling concept starts with the production of goods, focuses on promotion and sales and ends at getting profits. In contrast the market concept starts with a well defined market,  focuses on customer needs and wants and ends at creating long term customer relationship by effectively satisfying the needs and wants of customers. Thus though marketing concept, organization could be benefited in the long run.

• Societal Marketing Concept

Societal marketing concept focuses to improve the well being of consumers and society as a whole. Therefore those organizations which are practicing this concept try to analyze the needs, wants and demand of target market and deliver superior value to customers which results in overall wellbeing of customers and society. Societal marketing concept is relatively new as compared to the other marketing management philosophies.