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    2.evolution of Marketing Concepts

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    akalove emmy
    The document discusses the evolution of marketing concepts from the production concept to the holistic marketing concept. It explains key assumptions and focuses of the production, product, selling, marketing, societal, and holistic concepts. The marketing concept focuses on customer needs and satisfying them more effectively than competitors.

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    2.evolution of Marketing Concepts

    Uploaded by

    akalove emmy
    8 views5 pages
    The document discusses the evolution of marketing concepts from the production concept to the holistic marketing concept. It explains key assumptions and focuses of the production, product, selling, marketing, societal, and holistic concepts. The marketing concept focuses on customer needs and satisfying them more effectively than competitors.

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    2.EVOLUTION OF MARKETING CONCEPTS

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    The document discusses the evolution of marketing concepts from the production concept to the holistic marketing concept. It explains key assumptions and focuses of the production, product, selling, marketing, societal, and holistic concepts. The marketing concept focuses on customer needs and satisfying them more effectively than competitors.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    8 views5 pages

    2.evolution of Marketing Concepts

    Uploaded by

    akalove emmy
    The document discusses the evolution of marketing concepts from the production concept to the holistic marketing concept. It explains key assumptions and focuses of the production, product, selling, marketing, societal, and holistic concepts. The marketing concept focuses on customer needs and satisfying them more effectively than competitors.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    of 5

    EVOLUTION OF MARKETING CONCEPTS

    In this lesson you will learn:

    Define the Marketing Concept and its focus on customer needs.


    Differentiate between the Production, Product, and Selling Concepts.
    Explain the key principles and assumptions of the Marketing Concept.
    Analyze the significance of the Societal and Holistic Marketing Concepts.

    The Marketing Concept is a way of life in which all of an organization's resources are mobilized to
    develop, stimulate, and satisfy the customer while making a profit. It represents a distinct corporate
    perspective that views marketing as more than a physical process. Wherever this notion is prevalent,
    the marketing organization is future-oriented, customer-oriented, value-oriented, profit-
    oriented, and employs modern management principles across all sales, distribution, and marketing
    departments.

    Earlier marketing involved only the exchange of a product between a seller and a buyer
    usually based on money. The prime thought developed on the idea of marketing was that it is a
    process of exchange of products between the sellers or producers and the prospective buyers. But as
    the markets developed and matured, various philosophies were formulated to understand
    the mechanism and concept of the market. The various concepts of marketing are
    discussed as under:

    © 2023 Athena Global Education. All Rights Reserved


    The Production Concept

    According to Dr. Philip Kotler, the production concept holds that consumers will prefer products that
    are widely available and inexpensive. Manufacturers assumed that buyers would seek out and
    purchase fairly priced, readily available products, so they concentrated on improving production and
    distribution efficiency. This philosophy rests on the thought that consumers will favor those products
    that are available and highly affordable. This concept is based on the following assumptions:

    Any product that can be manufactured can be sold.


    The most important management duty is to keep manufacturing costs low.
    A company should only make a few fundamental products.

    The Product Concept

    According to the product concept, consumers will prefer products of exceptional quality, have
    new features, and provide good performance. As a result, businesses should focus their efforts
    on producing continual product enhancements through intensive R&D. The product concept can also
    lead to a situation called “Marketing Myopia”. It means customers buy a solution to their problem
    rather than a product. So, the marketer has to see the buyer’s needs rather than the product he sells.

    © 2023 Athena Global Education. All Rights Reserved


    The Selling Concept

    Source: cpschools.com

    The focus of the selling philosophy was to create a department that was completely responsible
    for selling the company's product, allowing the rest of the organization to focus on producing the
    items. According to Kotler and Armstrong, the selling concept was oriented on the idea that a
    firm can sell whatever product it makes using marketing strategies like advertising and personal
    selling.

    The assumptions of this Philosophy are:

    Producing the best possible product.


    Finding the buyer for the product,
    The management’s main task is to convince the buyers through high pressure tactics, if
    necessary.

    The Marketing Concept

    As per this concept, Customers' demands are identified, and all of the firm's actions are tailored to
    meet those demands as efficiently and effectively as feasible. As a result, According to the
    Marketing Concept, accomplishing organizational goals requires recognizing the needs and wants

    © 2023 Athena Global Education. All Rights Reserved


    of target markets and offering the desired satisfaction more effectively and efficiently than
    competitors.

    This concept assumes that the customer's requirements and wants, rather than aggressive
    selling, should be the beginning point for any marketing process. The essential assumption
    behind marketing theory is that "a market should make what it can sell, rather than trying to sell what
    it has made."

    The Societal Marketing Concept

    The idea is that there is a contradiction between consumers short-term desires and society's
    long-term interests and that businesses should focus on a practice that ensures long-term
    customer and societal welfare. Kotler and Armstrong consider societal marketing orientation as the
    best business philosophy to be adopted by organizations. They mentioned, “This new concept is an
    attempt to integrate the interests of business with the sometimes contradictory
    aspirations of society”.

    Holistic Marketing Concept

    The Holistic Marketing concept is a product of 21st-century business thinking. The idea is to "create,

    © 2023 Athena Global Education. All Rights Reserved


    plan, and implement marketing programs, processes, and activities that acknowledge
    their breadth and interdependencies". It is thus based on the assumption that marketing should
    be approached through the adoption of all marketing activities. Thus, holistic marketing includes :

    Internal Marketing
    Performance Marketing
    Integrated Marketing
    Relationship Marketing

    Evolution of the Marketing Concept. Available at:


    https://openstax.org/books/principles-marketing/pages/1-4-evolution-of-the-marketing-con
    cept

    © 2023 Athena Global Education. All Rights Reserved

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