What Do You Mean by Marketing Concept?
Marketing is the process of acquiring the right goods or services or even the ideas to the right people at the right place, right time, and price, also using the right promotion techniques to provide the customer services that are associated with the goods, services, or the ideas.
The concept which is referred to as the “right” principle is the main basis of all the marketing strategies that are used by a business. Marketing is about creating exchanges that would bring a positive change in the livelihood of the people. This exchange takes place between two parties that give something of value to each other to satisfy their own needs or wants.
Societal Marketing Concept
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Societal marketing is the concept that holds the notion that a company should make good marketing decisions prior to considering the consumers’ wants, the company’s requirements, and society’s long-term interests at large.
Philip Kotler, the father of marketing defines Societal Marketing as “the societal marketing concept holds that the organization’s task is to determine the needs, wants, and interests of target markets and to deliver the desired satisfactions more effectively and efficiently than competitors in a way that preserves or enhances the consumer’s and the society’s well-being.”
Societal Marketing builds a favorable image for the company which increases sales. This is a term that is closely related to CSR and sustainable development in that regard.
Societal Marketing emphasizes social responsibilities and suggests a business to sustain with this principle.
The selling concept refers to a process in which a business justifies that the consumers will not be willing to purchase enough of a business's product or services without a persuading promotional campaign. This concept is used mostly in the industries which create goods that the consumers usually don't consider buying. These companies generally have large sales forces and focus their energies and strategies on selling their products.
Holistic Marketing Concept
Holistic Marketing Concept is the part of a series on the concepts of marketing which defines the marketing strategy that is considered the business as a whole and not as an entity with various different parts.
According to this holistic marketing concept, if a business is made of various departments, then the departments are required to come together to represent a united business image in the minds of the customers. The holistic marketing concept is interconnected with marketing activities that ensure the customer is likely to purchase their product rather than falling into the competition.
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1. Production Concept
This concept is ruled on the efficient production process of a company. As in the days of the industrial revolution, this is believed that goods that are available in excessive quantities and at cheap prices will always sell no matter what.
2. Product Concept
In the product concept, the company will make sure that their goods are of the standard quality. This means the cost of production and the price of the product will be higher. In this case, the company will look to maximize its profit with promising quality products.
3. Selling Concept
This concept has a shift. A shift from the production of the product to only selling the product. Even after the goods satisfies the price and quality requirements of the consumer, the sale is not guaranteed. Thus, in the selling concept of marketing management philosophies, the strategy is to persuade the consumer to buy the product by whatever means necessary.
4. Marketing Concept
Marketing is added as one of the newer marketing management philosophies. It is a very recent concept which truly believes “the customer is king”. All the decisions are directly or indirectly influenced by the needs of the customer. Right from the production to designing of the goods till its transportation, each process has customer satisfaction in mind.
5. Societal Marketing Process
At times the need of the customer and the requirement of the company are not best suited to society or the environment. Since the business is a part of society, a businessman must ensure society’s well being as well. So, this concept will focus on the satisfaction of consumer needs undoubtedly also without harming the society or the environment in the process of satisfying.
Production Concept in Marketing
Production is a Concept which is moreover a belief which states that the customers would always acquire the products which are cheaper and more readily or easily. The production concept basically means that the more the products or production more will be the sales. In countries where the labor is cheap and is easily available, like in our nation, the production can be maximized while minimizing the costs, thereby increasing the production efficiency.
FAQs on Marketing Concept
1. Elucidate on Promotional Techniques.
Ans. In the field of marketing, promotion plays an active role. This refers to any type of marketing communication that is used as information tools to inform the target audiences about the merits of a product, service, brand, or even an issue. Generally, Promotional Techniques are persuasive in nature which helps the marketers to create a distinctive place in a customers' mind. The aim of promotion is to increase awareness, create interest, and thereby generate. This is one of the core elements of the market mix.
There are five types of promotion:
2. Why is Societal Marketing Necessary? Give an Example of Such a Societal Marketing Company.
Ans. Societal Marketing is quite important to society, as for the environment, for the businesses. The societal marketing concept helps to maximize the profits of the organization which will create a long-term relationship with the customers. This will encourage the company to develop products that will benefit society in the long run and which will satisfy the consumers.
Example: The body shop is a natural cosmetic, skincare, and perfume Company. This company uses all plant-based ingredients to make their products and they do not test their products on innocent animals.
3. What is the Full Form of CSR?
Ans. The full-form of CSR is Corporate Social Responsibility.
CSR defines the purpose of every business. They collaborate with the companies and the organizations in India for creating a social impact with the direct implementation of CSR projects which aim at holistic development of the individuals and the communities at large.