5 marketing management philosophies. Marketing Management Philosophies 2019-01-19

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The 5 Marketing Concepts

5 marketing management philosophies

Consequently, the Selling Concept takes on an inside-out perspective, starting with the existing products and focusing on finding customers for these. Greater emphasis is put on environmental impacts, population growth, resource shortages, and social services. The Societal Marketing Concept puts the Human welfare on top before profits and satisfying the wants. This concept means that the product should be designed and produced keeping in mind the need of the customer. Many new types of distinctive. A company will be concentrate on the large scale of production for goods and services.

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Marketing management philosophies Flashcards

5 marketing management philosophies

Marketing is both a philosophy and a function!! Marketing Concept: According to this concept, customer satisfaction is the key to organisational success. Finally, the new suppliers would be unknown to the factory, and therefore there is a risk that the suppliers are not as reliable as its other suppliers. Production Concept The Production Concept is just about producing, and does not spent much effort on knowing something about the customer. In selling the concept, the product is sold by hook and crook. Introduction The marketing concept suggest that to achieve organisational goals and be more profitable, an organisation should focuses its efforts on developing marketing mixes that best meet the needs of the consumer. In other words, it has to consider what the society wants and will accept, now and in the future.

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Detail Information about Five Marketing Management Philosophies

5 marketing management philosophies

A philosophy is a style or way of thinking, an expression of your values, mission an … d vision all rolled into a way of acting. These firms manufacture the products of superior quality but they must keep in mind that customers will buy the high quality only when they need or want it, only quality is not enough force. In other words; The aim is to sell what the company makes rather than making what the market wants. Consumer determine price, price determines cost 10. A salesperson needs to spend less time and effort selling easy-to-sell products, and therefore the cost of sales goes down when the marketer influences a company to complete a successful market adaptation. Hence company devotes most of its time in developing a product of greater quality which usually turns out to be expensive. Companies following this concept may even try to deceive the customers to make them buy their product.

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What Is a Marketing Philosophy?

5 marketing management philosophies

These concepts have been popularised by Kotler. Business marketing is different in the following ways Buyer and seller relationship In consumer markets, there are a few industries where close personal relationships exists between buyers and sellers. Lack of commitment of key organizational executives to the success of their organization The fact that most goods sold in the developing countries are imported and hence there is limited opportunity in such cases to adopt such products to suit local consumers and the environment Reluctance on the part of management to accept changes in practices which the adoption of the concept would involve; and Ignorance on the part of management on how to effectively implement the concept. The company believes that with the increase in the capacity of producing more products the sales also increase. Companies use these orientations as a basis for their marketing campaigns. Non- -profit organizations have adopted the selling concept including political parties seeking votes for their candidates. The more the selling techniques the more would be the response from the consumers in terms of purchases.


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5 Most Important Marketing Management Philosophies

5 marketing management philosophies

It aims to meet the present needs of consumers and businesses while simultaneously preserving the ability of future generations to meet their needs. This may result in a decrease in sales if the product is not up to the standards. They also try to satisfy the need better than their competitors. These steps and phases are known as a philosophy of marketing management. Low price may attract new customers, but the focus is just on production and not on the product quality. Accordingly, marketing should aim at the reduction in the cost of production and concentrate on mass production and distribution. The breadth of these roles vary across companies, but all generally focus on overseeing meeting business goals through markeitng programmes.

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Compare the 5 marketing management philosophies

5 marketing management philosophies

Therefore, the aim is to improve the product. It is the view of majority of the executives that most marketers in Nigeria are not actually putting the marketing concept into operation, although they have paid considerable lip service to the concept. This concept is one of the oldest Marketing management orientations that guide sellers. Both of these organizations have strived hard on their products and offer rich, ground-breaking as well as different application products and individuals are passionate about these brands. But the store still requires people to interact with those potential customers on a one-to-one basis to make the sale. Hence companies focus on producing more of the product and making sure that it is available to the customer everywhere easily.


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Solved: Describe four marketing management philosophies. The ro...

5 marketing management philosophies

Societal Concept: Although marketing concept is satisfying the needs of customers in the best possible manner but then also it has attracted criticism from people who are concerned about society and environment. The drawback of this concept is that no attention is paid to social welfare. This concept is almost a step further than the marketing concept. This concept holds that potential exchange would be realized when the products are inexpensive and are widely available. With selling concept the firm can make a customer buy something even when the customer has no intention of buying it.

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Solved: Describe four marketing management philosophies. The ro...

5 marketing management philosophies

Many of the big companies have included corporate social responsibility as a part of their marketing activities. But what philosopy will guide this strategy? What are the benefitsof each? Marketing is a very important aspect in business since it contributes greatly to the success of the organization. Instead there is a need to attract the customers towards them. The range of distribution options open to the manufacturer. Under the marketing concept, customer focus and value are the routes to achieve sales and profits. The product concept asserts that clients prefer a particular service or product when it is clearly superior to the competition.

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Management Course

5 marketing management philosophies

Factors of production are government owned, there's limited technology, very little g … rowth, and low levels of productivity. Product Concept The Product Concept focuses totally on the product: nicer, better, cheaper…, but not on the customer and what he might need. Our philosophy is to research, curate, and provide the best startup feeds and resources to help you succeed in your venture. Its greatest drawback is that it is not always necessary that the customer every time purchases the cheap and easily available goods or services. But a customer does really need a floppy disk? A business philosophy is to business; what faith is to religion, what rhyme is to poetry. In any case, with the progression of time the organization understood the needs of the shoppers and adjusted their item and brought in a variety in their cleanser line. Theodore Levitt 'The difference between selling and marketing is more than semantic.

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