Moreover, for its products to be favored by the consumers, it will try to make its distribution as extensive as possible. Marketer should keep in mind the societal and environmental factors as well because there won’t be any business activity without society. The companies that follow the product concept, manufacture the product on a mass scale and they make a profit out of the economies of the scale. This concept helps a company to find out what customers want and … Therefore, it is ideal for a company to highlight its attention to a particular segment (s) of the total heterogeneous market. to its selected target customers. Tesla promises a big push for green energy with electric cars and solar roof panels/tiles. Five marketing concepts are Production concept, Product concept, Selling concept, Marketing concept and Societal marketing concept. Product Concept 3. These changes had led to the evolution of the “marketing concept,” which, in essence, is a philosophy of management. The reason behind coordination with other departments is that marketing cannot work in isolation. The entire company works to develop, manufacture, and sell a product from the marketing perspective. that supply creates demand in the market. What is needed for success is customer orientation, i.e., carefully defining customer needs from customers’ points of view. A company managed under the marketing concept must plan, organize, coordinate, and control its entire operation as one system directed toward achieving a single set of objectives applicable to the total organization. Production concept 2. that the customers don’t remember their past shopping experience. If people like Mountain Dew or not, that is debatable, but you can see that PepsiCo is pushing it hard using ads. and operate towards a sustainable future for the whole society, companies are a Typically the selling concept is practiced with unsought goods. These two strategies are used together and backed by marketing research, product development, improvement, pricing, dealer organization, cooperation, and the physical distribution of goods themselves. Sale Today’s market follows the marketing concept of meeting and fulfilling customers’ needs and wants, but environmental challenges are questioning the whole strategy of the marketing concept. For Most times, the production concept can lead to marketing myopia. By targeting more people, they can increase These are; (1) production concept, (2) product concept, (3) selling concept, (4) marketing concept, and (5) societal marketing concept. Markets. It takes an outside-inside view. Nowadays, the societal marketing concept may be the best of the Marketing Concepts, since it looks at the long-term interests of society and thereby forms a strong basis for an effective marketing strategy. The whole idea of sale concept is based on the false assumption, In Succeeding by meeting the needs of customers is one of the most commonly held ideas of the marketing concept. product, then they’ll buy something else and forget about their old shopping of customers better than the competitors. For example, if marketing functions are not coordinated among themselves, the salesforce might heavily criticize marketing people for setting a very high sales target. In this concept, they don’t focus on what customers need. Marketing has very little room in this concept. The marketing concept demands that the strategic decisions made by the company are taken keeping the customer in mind. their productivity by expanding their market. Product 3. These high-quality products are priced higher, but people still buy, and they get almost free advertisement from independent reviews. Each of the concept was developed as per the need of the market. The concept of marketing is a fundamental piece of the marketing arrangements. For example, a company might be aimed at satisfying consumers’ wants and desires, but its overall objective might be to increase the profit volume. There are 5 marketing concepts that organizations adopt and execute.