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    The Five Marketing Concepts Described

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    ankush birla
    The document discusses 5 marketing concepts: the production concept, product concept, selling concept, marketing concept, and societal marketing concept. It provides details on the first two concepts. The production concept focuses on efficient manufacturing and low prices. The product concept prioritizes product quality and features to attract customers. Both concepts emerged during different eras to satisfy changing customer and business needs.

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    The Five Marketing Concepts Described

    Uploaded by

    ankush birla
    124 views3 pages
    The document discusses 5 marketing concepts: the production concept, product concept, selling concept, marketing concept, and societal marketing concept. It provides details on the first two concepts. The production concept focuses on efficient manufacturing and low prices. The product concept prioritizes product quality and features to attract customers. Both concepts emerged during different eras to satisfy changing customer and business needs.

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    The document discusses 5 marketing concepts: the production concept, product concept, selling concept, marketing concept, and societal marketing concept. It provides details on the first two concepts. The production concept focuses on efficient manufacturing and low prices. The product concept prioritizes product quality and features to attract customers. Both concepts emerged during different eras to satisfy changing customer and business needs.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    124 views3 pages

    The Five Marketing Concepts Described

    Uploaded by

    ankush birla
    The document discusses 5 marketing concepts: the production concept, product concept, selling concept, marketing concept, and societal marketing concept. It provides details on the first two concepts. The production concept focuses on efficient manufacturing and low prices. The product concept prioritizes product quality and features to attract customers. Both concepts emerged during different eras to satisfy changing customer and business needs.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 3

    In marketing, businesses will design strategies that satisfy customers’ needs,

    increase sales, maximize profit and beat their competition. That is a nice truth and
    statement, but many might ask, “what philosophy is the best for a company in setting
    marketing strategies?”

    Well, in this article we will discuss 5 different concepts of marketing that each have a
    specific function in a holistic marketing strategy. The concepts are:

    1. The Production Concept


    2. The Product Concept
    3. The Selling Concept
    4. The Marketing Concept
    5. The Societal Marketing Concept

    Now, you might be wondering what each of those entails and before you get the cart
    before the horse, let’s break down each of these marketing concepts in detail. We
    might even find some strong examples and trends of usage throughout history!

    Let’s dive in!

    The Five Marketing Concepts


    Described
    The five basic marketing concepts are a key part of putting together any new
    marketing campaign. Here’s what you need to know.

    The Production Concept

    The production concept is the most operations-oriented than any of the other
    marketing concepts on this list. It speaks to the human truth that we prefer products
    that are easily available and inexpensive.

    This concept was founded during the production era of early Capitalism in the mid-
    1950s.  During that era, businesses concerned themselves primarily with production,
    manufacturing, and efficiency issues. This is also the time when the “Says Law” was
    created exciting the idea of supply and demand.

    The basic idea of this concept is that businesses will want to produce widely cheap
    products in maximum volumes to maximize profitability and scale. Businesses
    assume that consumers are primarily interested in product availability and low prices
    while customer’s needs might not be fully addressed.

    Such an approach is probably most effective when a business operates in very high
    growth markets or where the potential for economies of scale is significant.

    The problem with this concept is that businesses run the danger of not creating
    quality products and might have customer service problems with impersonal
    production. An example of this is the use of developing country to output cheaper
    products in higher quantities. Another historical example is Ford automobiles that
    manufactured a ton of cars through its assembly line but all came out the same
    without customizations or user input.

    The Product Concept

    The product concept is not so much about the production and business output but
    focuses more on the customer.
    Potential customers favor products that offer quality, performance, or innovative
    features.

    This marketing concept believes in potential customers and how their brand loyalty is
    closely tied to options of products, the quality of those products and the benefits they
    get from the product and the business they invest in.

    This is seen most commonly with our obsession with Apple products and looking
    forward to their new gadgets and features upon launch!

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