There are different concepts that guide sellers to conduct their marketing activities. For example sellers can only focus on production and try to reduce their cost of production, or focus on improving the quality of product. Similarly they can pay more attention to selling and promotion. In this way different concepts have evolved to help the organizations in managing their marketing activities. These concepts are: production, product, selling, marketing, and societal marketing. The explanation of these concepts is given below.
- Production Concept
Production concept refers to the philosophy that supply creates its own demand. It means that the sale will increase automatically with the increase in production and distribution facilities. This is one of the oldest concepts and works only in few situations. For example if the management is trying to reduce the cost of production then it can do so by increasing the production. With the increase in production, economies of scale takes place and the cost of production reduces, which helps to reduce the prices. Similarly the concept of production is helpful in situation when there is imbalance between demand and supply i.e. demand exceeds supply. Due to higher demand, prices start to increase therefore management can earn higher profits by increasing the production.
- Product Concept
Product concept states that the sellers should focus on improving the quality of their products, improve the performance, add more innovative features etc. So basically this concept is about to attract the customers by improving the quality and performance on one hand and offer attractive prices on other. Similarly the design, packaging and effective distribution channels of product are some of the important tactics to attract the customers. The important drawback of product concept is that it can lead to marketing myopia in which the organization overlooked the importance of other substitutes available in the industry.
- Selling Concept
Thanks a lot for your efforts info is very helpful.
Good site for learning business
Thanks for sharing i really like your marketing concept customers satisfaction is really important now a days.
can your share the disadvantage and advantage of the five marketing philosohies
Good work
thanks for good contribution about marketing management philosophy
Very insightful content. Good work.
wow these notes are easy to understand
HENRY OROMAT SACCO SAY
SATISFACTION OF CLIENTS NEED IS THE END POINT OF THE SELLING PROCESS
Glad
very good work for students and lectures .we even need the distinctions between philosophies.
define marketing management philosopy
thank you for helping lazy people who want everything on a silver plate
good stuff
perfect
We gain and noted
wooool i appreciate the work done
I like the marketing concept.
Thnx for leaving a beautiful concept abt d toppics
amazing topic and well explained. best of luck
Thanks I now understand the topic , good work
This is very good. Easy to understand and precise.
Very good