Marketing group 1 2

GROUP 1

MARKETING MANAGEMENT PHILOSOPHY Production Concept

Product Concept Selling Concept Marketing Concept Societal Marketing Concept

MARKETING MANAGEMENT PHILOSOPHY

Branch of studies related to sales promotion strategies and consumer relationships.

Production Concept The assumption is that

customer will favor those product that are always available and cheap inexpensive.

Business operation concept revolve mainly on production’s distribution system.

Production Concept

This concept philosophy is appropriate for the following situation.Demand exceeds supply-

consumer is willing to purchased any version of product they find.

Product cost is high and opportunity for reducing production cost exist.

Product Concept The assumption is that a good

product will sell by itself. It is believed that the quality of the product should be the primary concern of the firm.

The product philosophy holds that the organization knows its product better than anyone or any organization. The company knows what will work in designing and producing the product and what will not work.

Selling Concept Management believe that the

success of the company lies in the quality of it’s sales force and that the company should make substantial efforts to stimulate sales.

The selling philosophy holds that an organization can sell any product it produces with the use of marketing techniques, such as advertising and personal selling.

Marketing Concept The importance of the

consumer is recognized in this concept. The company adapts it’s intension of satisfying human needs and wants.

Company says,

“Let's identify and meet the buyers needs and wants,

consistent with our company's long term

mission, and our business objectives"

Societal Marketing Concept This concept is an extension of

the market concept. It actually advances the idea that the concern of the business firm is not limited to the market’s short-run needs and wants but also with the society’s long-run welfare and human being.

Company says,

“Let's continue to meet the market needs, and our business objectives, but do so in a way that also enhances the well being of society."

END!

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