Every company or organization has a particular concept or philosophy regarding its marketing strategy. The core purpose stays the same however, to enable the bridge between the product to the consumers. Related to that, Henry Ford invented the mass production and enabled the concept of if you work more, you grow the company and increase its sales. On the other hand increase your salary as well. Having this mindset, companies tries to identify themselves to a marketing philosophy.
There are 5 main concept in marketing philosophy. I’ll be writing about each one of them below.
1- Production Concept
The main focus of companies who chose production concept is to make the product cheap enough so that it can be easily sell and increase the sales. The goal being to strengthen distribution on a large-scale, this concept creates competition between companies for making the cheapest products that is easily available to everyone.
2 – Product Concept
Unlike the Production Concept, here the main goal is to constantly improve the product quality. The idea behind is – If my product is of good quality it will attract more customers. Marketers put an effort in increasing the quality of the product. However, quality of a product is not the only basis on which a customer decides to buy a product.
3 – Selling Concept
Companies using the selling concept tend to think that through repeated efforts to market their products, they can easily create attraction. The marketing effort is put onto educating and attracting their customers. However, if a sale person managed to convince a customer, this often happen once and the more you try to convince the customer, the more it will damage the reputation of the brand.
4- Marketing Concept
Those companies who believe in this concept are of the opinion that success can be achieved only through consumer satisfaction. The basis of this thinking is that only those goods/service should be made available which the consumers want or desire and not the things which you can do.
5- Societal Concept
This concept stresses not only the customer satisfaction but also gives importance to Consumer Welfare/Societal Welfare. This concept is almost a step further than the marketing concept. Under this concept, it is believed that mere satisfaction of the consumers would not help and the welfare of the whole society has to be kept in mind.
Reference: Your Article Library