The sales orientation lays stress on overcoming consumer resistance through information, persuasion, and often hard selling. For instance, Fair and Handsome brand of fairness cream is targeted at the male segment of consumers. The marketing concept is the concept of competition. You see, in Amazon or retail stores, the market is flooded with cheap products from china. Regarding what business we are in, the company, for example, says, “we sell beauty and hope instead of we sell cosmetics.”. A firm pursuing this philosophy tries to improve its products in terms of quality, performance, and any other perceptible feature. Marketing of firearms without adequate checks may promote crime and killings. The uncontrollable or environmental elements that the decision maker must adapt to, as shown in the outer hexagon of Figure 6, are not uncontrollable in an absolute sense. The above bases suggest another clear definition of the marketing concept put forward by W. J. Stanton. Companies adopting this orientation run a major risk of focusing too narrowly on their operations and losing sight of the real objective. The aim of marketing is to know and understand the consumer so well that that the product or service fits him and sells itself. You know that the marketing concept is based on four pillars, viz., target market, customer needs, integrated marketing, and profitability. Besides its application in the tangible goods business, the selling concept is also practiced in nonprofit areas, such as fund-raisers, college admissions offices, and political parties. Unsought goods are that buyers do not normally think of buying, such as insurance or blood donations. It refers to firm’s communication with the consumers regarding the product. Share Your PPT File. The concept of marketing management involves marketing and management. Motivation not only helps in better performance by the employee but also holds him back to the organisation for longer periods. Selling is based on the premise that a consumer can be manipulated and cajoled into buying what is being sold. Hospitality Marketing Management by Robert D. Reid and David C. Bojanic: This title is a great starting point for learning about marketing’s role in the hospitality industry. Products are customer oriented and offered to the customer’s as per their requirement and preferences. In part, this is because the role of a marketing manager… In an organisation, marketing concept is used to examine the customer’s needs and make powerful decisions to satisfy those needs, increase the sales, make profits and stand among the opponents. The product should exactly satisfy the consumer. The application of this concept is also seen in service firms such as hospitals. Our mission is to provide an online platform to help students to discuss anything and everything about Economics. As suggested by the discussion of the marketing system, there is a complex of more or less uncontrollable forces operating on the manager. The failure of earlier ideas in getting consumer response caused managers to rethink what they thought to be the key to doing business. And today, we have an opportunity to look at all 5 concepts of marketing and what they represent. Marketing Myopia – The Concept with Examples Companies need to give a more consumer-centric goal to their business and think beyond just selling their products. The key questions changed to − 1. They usually use a mix of marketing concepts or change it depending on the market situation, competition, and sales numbers. Application of this concept in service firms such as hospitals is also criticized because it may cause deterioration in the firm’s service. This definition suggests that marketing starts with the market, focuses attention on customers’ needs, and attains profit through customer satisfaction with coordinated marketing. The processes are- (i) choice of the market (e.g., Apple operates in mobile handset market), (ii) selection of the target customer group (e.g., Apple does not cater to all customers in mobile handset market rather it targets the premium ones), (iii) determination of what customers in the target group need and want or what constitutes the concept of satisfaction (e.g., Apple understands what its target customers want in terms of usage ease, product touch and feel, instrument looks, and communication eco system), (iv) develop products or services in response to customer needs and wants (e.g., Apple devices like iPhone 6 is an outcome of product development in consonance with customer expectations), (v) plan how the product or service in question offers better satisfaction than competition (e.g., Apple devices score over its competitors in a number of customer significant ways such as aesthetics, appeal, and imagery). v. Innovation – Innovation is an important tool to provide consumer satisfaction. Welcome to EconomicsDiscussion.net! Under the marketing concept, marketing becomes the basic motivating force for the entire firm. This concept seeks to insert societal interest in the marketing concept so that customer satisfaction does not compromise societal well-being in the long run. Providing consumer satisfaction – Every organization aims at providing maximum consumer satisfaction by understanding his needs and designing an appropriate product. Before proceeding to examine some of the details of this process, com­ments on two aspects will be helpful background. The results are evaluated against our desired objectives. 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. The marketing-mix is expected to sell more than competitors. Product planning involves new product development, product innovation, product diversification plan. Consequently, all company activities in production, engineering, and finance, as well as in marketing, must be devoted first to determining what the customers’ wants are and then to satisfying those wants while still making a reasonable profit.”. Accordingly, the first management task is to find an efficient distribution strategy that ensures product availability so that consumers can buy products with ease. Other decisions concern dropping or adding an item to the product line. Roughly, he decides the kind of a product to produce, the kind of a distribu­tion system to use, the price to charge, advertising messages and media, and the salesmen’s message to customers on whom they call. Product Concept. These differences are caused by per unit value that a product commands. Marketing Management Definition Marketing is the process used to determine what products or services may be of interest to customers and the strategy to use in sales, communications and business development (Kotler et al. Marketing is the creation and delivery of the standard of living to the society. Marketing management collects and analyses information related to consumer’s needs, wants and demands, competitor’s marketing strategies, changing market trends and preferences. This intensified competition and put pressure on firms to offer better quality products. The availability and affordability imperative brings two functions, namely distribution and production, at the centre of marketing strategy. Marketing management is a process involving analysis, planning, implementing and control and it covers goods, services, ideas and the goal is to produce satisfaction to the parties involved”. The marketing concept suggests that a company should focus its attention on marketing rather than production and selling. Size is also related to the number of buyers in a market. BASIC MARKETING CONCEPTS . And the soft drink companies know it, and they run ads 24×7, spending millions, The marketing concept holds- “achieving organizational goals depends on knowing the needs and wants of target markets and delivering the desired satisfactions better than competitors do.”. Middle management is there to support front-line people so that they can better serve the customers, and top management stays at the base to support middle management so that they can effectively and efficiently provide support to the front line people. Second, work on the production systems to bring down cost so that more consumers could buy them. The new reality of competitive intensification and market saturation led to the discovery of marketing concept in 1950s that placed the customer at the centre of the marketing universe. With the passage of time the consumer and competitive conditions evolved. According to him, consumers typically show buying inertia and sometimes resistant to buying and have to be influenced by different means so that they are agreed to buy. This helps the management to understand consumer’s needs, wants, preferences and behaviour of the consumer towards firm’s marketing mix strategies. → Marketing Concept is a Philosophy . A positive customer response affirms that the managers’ decisions regarding that particular brand were right. The selling concept also developed at the same time, and the product concept developed and still predominant in many industries. Lets understand the definition and characteristics of services in detail. The concept of marketing is a fundamental piece of the marketing arrangements. Assessing the Marketing Opportunities: Determination of marketing objectives and assessment of the marketing opportunities for the firm, is an important function of marketing management. It can also improve its product quality and service level if it knows what customers actually want. The seller directly contacts the buyer and convinces him to buy the goods and services. Share Your PDF File Innovative methods must be used to understand the consumer, design an appropriate product and offer it to the consumer. When a market consists of a small number of customers with highly specialized needs it is often labelled as niche market. The product concept ignores the role of other marketing activities. This process of marketing management takes place “some­where” within the marketing system. Production concept is probably the oldest business governing idea, which dates back to the period of short supply of goods. The customers victimized by the power of seller aggression become dissatisfied and vent their anger by spreading negative word- of-mouth publicity. Product decisions, pricing strategies, channel structure research activities all require proper coordination. Marketing management means management of the functions of marketing functions. Marketing process is a combination of different activities like research work to assess the marketing environment, product planning and development, promotion, distribution of product to customers and after sales service. Marketing management aims at maximising the customer’s value by providing high satisfaction to the customers. A company can do this with market research, and hence, the role of market research plays a dominant role in marketing concept-oriented companies. Having seen the marketing system portrayed, you know that “somewhere” can be within any of the many, many companies—manufacturing, wholesaling and retailing—that make it up. Marketing Management performs all managerial functions in the field of marketing. The marketing concept is the strategy that firms implement to satisfy customers’ needs, increase sales, maximize profit, and beat the competition. Getting the customer to do business with the firm is supreme and that is likely to happen only when managers give up their ego and work with subordinates as a team to target customers. Marketing: In this comparison Market is the narrower concept: Marketing is a much wider concept than market: Market is the point of interaction between buyers and sellers: Marketing is the social process by which human needs are identified and eventually satisfied: Market is a … Consumers can be either psyched out or lured into giving a favourable response. Holistic marketing is a new addition to the business marketing management philosophies which considers business and all its parts as one single entity and gives a shared purpose to every activity and person related to that business. Marketing structure depends upon the size of the enterprise, geographical coverage of the operation, number of product lines, nature of product, size of customers. Marketers set targets in terms of sales or profits that eventually get converted into a number of exchanges with the customers. In the marketing concept, companies start to focus on the customer need and what customer wants and how to satisfy their need. The number of buyers in a market gives rise to its size, which can either be expressed in terms of volume (e.g., number of cars sold in India in a given year) or value (e.g., total car sales expressed in rupee terms). While over the long term these factors will share the nature of the uncontrollable forces, the manager is forced by such aspects as convenience and lack of adequate data to concern himself mainly with the immedi­ate uncontrollable item. Getting, … It ensures that company projects complete on time and with as few errors as possible. The Selling Concept assumes –“customers who are coaxed into buying the product will like it. Production concept; Product concept; Selling concept; Marketing concept; Societal marketing concept; The article lists out the concepts of marketing in a very brief manner. Marketing Management Philosophies or 5 Marketing Concepts are; The idea of production concept – “Consumers will favor products that are available and highly affordable.” This concept is one of the oldest Marketing management orientations that guide sellers. These are; (1) production concept, (2) product concept, (3) selling concept, (4) marketing concept, and (5) societal marketing concept. Marketing management helps to increase profit and sales volume. Evaluation and Controlling of Marketing Activities: Marketing management performs the task of evaluation and controlling of the marketing activities. The product concept shifted the focus to product quality, thus stating that ‘the consumer would favour products with the highest quality at a given price’. Marketers must answer 2 important questions. He said, Because it is its purpose to create a customer, any business enterprise must have two and the only two basic functions: Marketing and innovation. The marketing concept is the philosophy that firms should analyze the needs of their customers and then make decisions to satisfy those needs, better than the competition. → The five philosophies of marketing management are: 1. Production Concept. Distribution process facilitates easy availability of goods and services to the customers at right time and at right and convenient location. It calls upon marketers to balance three considerations in setting their marketing policies: company profits, consumer want satisfaction and public interest. The negative publicity influences future sales by turning potential customers into non-customers. From the above definitions, we can conclude that Marketing Management is the process of management of marketing programmes for accomplishing organizational goals and objectives. When you think of high-quality products, Apple will be one of the top ones. Marketing management, like all other areas of management comprises of the function of planning, organising, directing coordinating and controlling. First, let’s make sure you have a base understanding of the concept. In moving goods from producers to consumers, the function of personal selling is to push, and advertising plays a pull function. The marketing concept holds- “achieving organizational goals depends on knowing the needs and wants of target markets and delivering the desired satisfactions better than competitors do.” Here marketing management takes a “customer first” approach. This function of marketing management enables the firm to provide information about the product to the customers. Such an aggressive selling program carries very high risks. It supplements advertisement and personal selling as a means of promoting sales. The setting of marketing goals and objectives, 4. Not only must a number of products be priced, but if a marketing channel other than direct-to-user is employed, consideration must often be given to the prices set at each level of the marketing channel. Magalie D. Magalie D. is a Diploma holder in Public Administration & Management … You can click on each link to know more about each individual concept of marketing. Various functions of marketing management are: 1. Pricing decisions are based on cost of the manufacturing and distribution of product, competitor’s pricing strategies, customer’s willingness to pay for the product, customer’s perception about the product. For instance, in compact detergent market Surf competes with Ariel; these brands essentially represent the condensation of decisions made by their respective managers, which include decisions regarding colour, quality, packaging, price, brand name, form, communication and availability. Importance 5. Marketing, here, indeed based on hard selling. In 1960 the American marketing Association (AMA) proposed a definition of a brand stressing primarily its logo and visual aspects with the main purpose of identification and differentiation. To the marketer products are the building blocks of a marketing plan. Marketing concept was initially met with a lot of resistance by managers because it sought to create a power shift from managers to customers. Coordination and conflict management are attained through contractual agreements among channel members. In a similar vein, organizations need philosophy to guide their thinking and behaviour. The product concept assumes that consumers will favor those products that are superior in quality, performance, innovative features, designs, and so on. The production concept was common to firms during the early period of industrialization when different products were born. The earlier belief that decisions like what to produce, how to produce, how to sell, and where to distribute were the prerogative of people inside the organization and customer’s role was confined to ‘take it or leave it’. These include Porter's five forces, analysis of strategic groups of competitors, value chain analysis and others.. 7. Marketing managers are often responsible for influencing the level, timing, and composition of customer demand accepted definition of the term. All companies must choose the set of channels they think will be most effective. This understanding can serve two objectives. What guarantees that a better mouse-trap will always get sold? Marketing is a department of management that tries to design strategies that will build profitable relationships with target consumers. Marketing caters to the varied and unlimited needs of consumers. The marketing manager makes marketing plans within the framework of controllable and non-controllable variables. Let’s overview the 5 basic marketing concepts with this infographic. The basis function of marketing is identification of consumer’s needs and wants .This requires continuous and systematic collection of data, analysis and reporting of data relevant to marketing activities. This can erode future business opportunities. Marketing Management Orientations 5 Marketing Management Orientations Production Concept. In many companies promotion decision require much of the marketing manager’s time. For instance, a distribution plan execution of a company like Pepsi will include undertaking activities such as handling of cartons at factory, loading on trucks, transportation, and delivery at sale points. Focus on customer needs – The needs of the consumer are studied and these become the basis of all product related activities such as designing, pricing, distribution, packaging etc. They are of the firm belief that product design or improvement aspects are better understood by their engineers or designers than the customers. Such segmentation helps the marketers to design specific strategies and techniques to promote a product amongst its target market. In other words, the recognition of the importance of marketing leads to the acceptance of marketing concept. What do you think about the importance of Marketing Management in business? After the product is designed, priced and advertised, it arouses consumers’ interest to buy it. Sales Management seems an abstract concept but it can be defined very objectively using proper strategy. Marketing is the delivery of standard of living to the society. Followers of product concept philosophy keep on improving their products on a continuous basis. 8. A business that is run on production oriented philosophy works with markets with the belief that product availability and affordability are key determinants of consumer buying. The spatial aspects of the structure of distribution, for example, the geographical concentration of buyers in each market, will make a great difference in determining the best set of channels for a particular situation. Institute of Marketing Management, England, has defined Marketing Management as “Marketing Management is the creative management function which promotes trade and employment by assessing consumer needs and initiating research and development to meet them. Marketing Decision Making 10. As Joseph C. Seibert says, “marketing management does not have the objective of creating customers insofar as it is responsible for creating or building markets. Initially, when the number of producers was relatively smaller, the concept was to produce and distribute a maximum of the product in an affordable way to the target market. As time progressed several industries witnessed expansion of production capacity. Marketing process requires researcher, production engineer, different distribution intermediaries, sales personnel also creates employment opportunities in advertisement section. Marketing Concept 5. Marketing management develops new techniques and tools for promotion of their product. There are five alternative concepts under which organizations design and carry out their marketing strategies to answer these. Continuous practice in the areas of personal selling, sales promotion, advertising, etc. Directing and Motivating the Employee: A good direction is a must for effective performance of marketing functions. For effective marketing management, the firm must prefer an effective marketing concept. Marketing objectives relates to attracting new customers, retention of current customer, expansion of customer base, introduction of new product, improvement of old product and so on. This assumption creates strategic orientation that a firm should focus on while making the product available and affordable. A company should choose the right one according to their and their customers’ needs. Content Guidelines 2. The entire focus should be on the consumer and his needs. Marketing Concept Those companies who believe in this concept are of the opinion that success can be achieved only through consumer satisfaction. Thus it may increase the number of loyal customers and profit volume. Management Guru Philip Kotler defines marketing as “Marketing Management is the analysis, planning, implementation anc control of programmes designed to bring about the desired exchanges with target audiences for the purpose of personal and mutual gain. Selling should be preceded by customer study, marketing research and product development. TOS4. These changes had led to the evolution of the “marketing concept,” which, in essence, is a philosophy of management. The modern marketing concept consists of an integrated effort on the part of the marketer to identify the consumer needs and satisfy them through appropriately designed products and for this task use all the marketing techniques related to product, selling, market study, consumer behavior, product designing, pricing etc. Any company following the selling concept undertakes a high-risk. Features 4. To one unfamiliar with company practice the need for implementing the concept and the capacity to do it would seem to be so obvious as not to merit discussion. The management process responsible for identifying , anticipating and satisfying customer requirements profitability. In the earlier concepts, goods would be brought to the market in the hope of finding customers. The non-controllable variables are social, technological, political, cultural and legal factors which affect the marketing strategies. It is a non-personal means of communication. The selling orientation exclusively focuses attention on ways to push the product across with little or no regard for consumer interest. What will be the importance of the organization, customers, and society’s interests? In this article, we talk about the Core Concepts of Marketing as put forward by Dr Philip Kotler. The marketing concept reversed the inside-out approach to outside-in approach, which implied that the business of an organization is not dictated by insiders or managers rather is dependent on outsiders or customers. This helps to identify market opportunities. But the aim of marketing is to make selling superfluous. Prima facie this concept makes good sense. Marketing based on hard-selling carries high risks since a consumer is not happy with the product will bad-mouth it to eleven acquaintances, and it will multiply to the same rate by those; bad news travels fast. Conversely, the selling concept relies on the transfer of title and possession of the product from one person to another. Marketing management conducts a continuous analysis of consumer’s behaviour towards firm’s marketing mix strategies, business environment; competitor’s marketing strategies in order to plan effectively the marketing activities of future. Integrated Marketing Management – Marketing management is only a part of the total managerial functions of an organization such as finance management, production management, human resources management etc. The product concept is based on the belief that consumers are motivated to buy those products that offer most quality. Companies don’t follow a single marketing concept rigidly. 4. “Mountain Dew” ads are hard to miss. Restaurants and startups do follow the marketing concept. Marketing management is a business discipline focused on the practical application of marketing techniques and the management of a firm's marketing resources and activities. This improves quality of life and makes life of consumers easier than before. Several products and services such as insurance and preventive health check-ups face consumer resistance because they are perceived to be unnecessary. Bought products are the ones consumers are self-motivated to buy for their perceived importance and interest (e.g., cosmetics and spectacles), whereas sold products are the ones consumers are unlikely to buy on their own. Below are some examples which put forward the phenomenon of Marketing Myopia and how can companies look beyond it. Management focuses on improving production and distribution efficiency. It deals with creating and maintaining demand for goods and services of the organization. Production concept could still hold true in industries where consumer buying is predominantly done on the basis of price (they do not attach importance to non-price differentiation) and ease of buying. Privacy Policy3. Second, understanding of marketing management will permit a better grasp of the role of marketing in economic development, which many countries are so earnestly seeking. Under the marketing concept, customer focus and value are the routes to achieve sales and profits. Evaluation enables identification of effectiveness of marketing plans and actions. In considering how the individual selling unit in the marketing system operates, we will investigate the question- What is market­ing management? For instance, air conditioner and refrigerator sellers’ market their products in tropical locations with ‘tropicalized’ compressors that are equipped to work in hot weather. Marketing involves various activities and these are inter-related and interdependent. Here, the company puts all of its efforts into building production volume and improving technology to bring down costs. Here ever decision will be influenced by the needs of the customer. Planning may be conducted on short term, medium term and long term basis depending upon the requirements. The correctness of these decisions is determined not by managers who take them rather customers. He has to primarily study the consumer and understand the needs, desires, requirements and conveniences of the latter. "The aim of marketing is to know and understand the customer so well the product or service fits him and sells itself." Advocates of this concept are of the opinion that consumers favor well- made products, products that are superior to the competing products in the above-mentioned aspects. The success of an organization is directly related to the consumer satisfaction it provides. This can be achieved through promotion and communication about the goods and services. The seller may sell directly to the buyer or through intermediation of wholesalers and retailers. It deals with physical attributes of the product and the benefits associated with use of that product. Revenue is not found inside an organization rather it resides outside, in the customer’s pocket. 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