Explain the following marketing management philosophies :
(i) Production concept
(ii) Product concept
(iii) Selling concept [CBSE]
Answer –
Concept | Main focus | Main means | Objective |
Production | Availability and affordability. | Large-scale production and distribution efficiency. | Profit through high volume. |
Product | Quality, performance and features. | Product improvement. | Profit through a superior product. |
Selling | Selling what the firm has produced. | Aggressive promotion and persuasion. | Profit through increased sales volume. |
Marketing | Needs of the target customer. | Integrated efforts to provide satisfaction. | Profit through customer satisfaction. |
Societal marketing | Customer needs and society's long-term welfare. | Responsible, integrated marketing. | Sustainable success with customer and social welfare. |
A technically excellent product can fail if it does not meet a real need. Societal marketing also considers effects such as pollution, waste and long-term consumer well-being.