Marketing is the concept to know your customers needs and wants, providing products and services which serves as a solution for customers problem. In modern world organizations take care of their customers and maintaining long term relationship. In past organizations not had similar thinking as it is today, marketing concept is adopted by organization in a different way. The thinking and perceptions of organization are refer to the philosophies “Organization picture of marketing”
There are five different type of marketing concepts namely production concept, product concept, selling concept, marketing concept and societal marketing concept.
Customers buy the products which are produced on mass level at low cost and widely available in the market. This concept totally phase out customer, production take place without taking customers needs and wants into consideration. This concept works well when the demand of product is more than supply or product cost is required to be reduced by following the practice of mass production.
The organization preaching this concept not last long because this concept ignore the other important factors like competition, new products, customer satisfaction etc. Organization most of the time compromise on quality in order to reduce the cost of the product which results in customer dissatisfaction leads towards product failure.
The idea behind product concept is customer will buy the product that is best in quality, design, features and durability. Organizations follow product concept are too much focused on their product that they lost site of other important factors like customer needs and wants.
This concept leads towards “Marketing Myopia” which means organization fall with love with their existing products that they never think about other alternatives. If a organization is only focused in producing best desktop computers for customer without keeping in mind that customer is willing for portable solution such as laptop and PDA.
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Very good information. Satisfied
The content is very helpful especially for college and university students. It is brief and straight to the point. However, the grammar requires polishing.
this information helps a lot but marketing plan in not explaned in simple manner...
I totally agree with Barbara's comment. Thank you for discussing such an insightful article with all of us. I’ve bookmarked your blog will come back for a re-read again. Keep up the excellent work.
good and straight forward
I do think that the concepts are well explained but needs to be backed up with refferences in order to justify the facts about all the concepts.
You can mention the points which are not clear to you. Suggestions are always welcome in MBA tutorials.
Short and clear. Good stuff
Thanks a lot
Thanks for the matter given is practical and very vital in marketing the organisational products but the production concept contradicts with the definition of marketing because you can not produce what is not aneed for the targeted market that means you first put in the customers needs and then produce to satisfy them.Thanks.
thank you so much...um luvin it
thank you its a good job done