Marketing Philosophies

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.

Production 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.

Product Concept

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.