Modern marketing concepts

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The Production Concept: This concept lays emphasis on production and assumes that consumers will always respond to products that are made available to them. These marketing activities or functions are performed by marketing middlemen such as merchant middlemen wholesalers and retailers or agent middlemen brokers and commission agents within the broad framework of marketing mechanism involving three distinct processes. It executes the marketing strategy according to market research beginning from product conception to sales. Dispersion completes the process of marketing and is a very important activity because the goods produced and concentrated have no value unless these are properly distributed to the centres of final consumption. Equalization is the process by means of which the supply of goods is adjusted to the demand for them. The Process of Marketing: The prime aim of marketing is to see that the goods and services move from the producers to the ultimate consumers. They must balance and juggle the often conflicting criteria of company profits, consumer want satisfaction, and public interest. As a whole, the production concept is oriented towards operations. This concept developed when there was a period of manufacturing dominance and there was no competition. And so company develops a product of greater quality which usually turns out to be expensive. It has shifted its focus from products to users. The societal marketing concept This is a relatively new marketing concept. Equalization: The process of equalization occurs between the process of concentration and the process of dispersion. During the era of the production concept, businesses were concerned primarily with production, manufacturing, and efficiency issues.

The Production Concept: This concept lays emphasis on production and assumes that consumers will always respond to products that are made available to them. It executes the marketing strategy according to market research beginning from product conception to sales.

While the societal marketing concept highlights the needs and wants of a target market and the delivery of better value than its competitors, it also emphasizes the importance of the well-being of customers and society as a whole consumer welfare or societal welfare.

The Sales Concept: With the development in technological field, the competition had grown and the market had become more complex.

features of modern marketing concept

Goods are collected from small producers at central points to enable the retailers to have adequate stocks of products of various qualities to meet the numerous requirements of their customers. All activities are geared towards the consumer.

Modern marketing concept wiki

The societal marketing concept calls upon marketers to build social and ethical considerations into their marketing practices. It executes the marketing strategy according to market research beginning from product conception to sales. Since the main focus of the marketers is the product quality, they often lose or fail to appeal to customers whose demands are driven by other factors like price, availability, usability, etc. One of the best modern examples would be IT companies, who are always improving and updating their products, to differentiate themselves from the competition. Related Articles:. The production concept may boost the sales in the initial stages but it invites the criticism that it is impersonal in its approach and ignores the interests of the consumers. Companies that use the production concept have the belief that customers primarily want products that are affordable and accessible. While the societal marketing concept highlights the needs and wants of a target market and the delivery of better value than its competitors, it also emphasizes the importance of the well-being of customers and society as a whole consumer welfare or societal welfare.

These marketing activities or functions are performed by marketing middlemen such as merchant middlemen wholesalers and retailers or agent middlemen brokers and commission agents within the broad framework of marketing mechanism involving three distinct processes.

The marketing concept A company that believes in the marketing concept places the consumer at the center of the organization.

Modern marketing concepts

By focusing on the needs and wants of a target market, a company can deliver more value than its competitors.

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The Five Marketing Concepts Explained