Ass 1 MMR
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Marketing Management Research M. Khurram Babar ID # 5141 The Marketing Concept. Th is is a business philoso phy tha t chall eng es the above three business orientations. Its centr al tenet s crystal lized in the 1950s. It holds that the key to achieving its organizational goals (goals of the selling company) consists of the company being more effective than competitors in creating, delivering, and communicating customer value to its selected target customers. The marketi ng con cep t rests on fou r pi lla rs: tar get mar ket , customer needs, integrated marketing and profitability. Distinctions between the Sales Concept and the Marketing Concept: 1. The Sales Concept focuses on the needs of the seller. The Marketing Concept focuses on the needs of the buyer. 2. The Sales Con cept is pre occu pied with the seller’s need to convert his/ her product into cash. The Marke ting Concept is preoccupied with the idea of satisfying the needs of the customer by means of the product as a solution to the customer’s problem (needs). The Marketing Concept represents the major change in today’s company orientation that provides the foundation to achieve competitive advantage. This philosophy is the foundation of consultati ve selling. The Marketing Concept has evolved into a fifth and more refined company or ientation: The Societal Mar keting Concep t. This concept is more theoretical and will undoub tedl y influence futu re for ms of mark etin g and selling approaches. The Societal Marketing Concept. This concept holds that the organization’s task is to determine the needs, wants, and interests of target marke ts and to deliver the desired satisfactions more effec tive ly and efficiently than compet itors (this is the origin al Marketing Conce pt). Addition ally, it holds that this all must be done in a way that preserves or enhances the consumer’s and the society’s well- being. This orientation arose as some questioned whether the Marketing Concept is an appropria te philosophy in an age of environmen ta l
Transcript of Ass 1 MMR
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Marketing Management Research M. Khurram Babar ID # 5141
The Marketing Concept.
This is a business philosophy that challenges the above three business
orientations. Its central tenets crystallized in the 1950s. It holds that thekey to achieving its organizational goals (goals of the selling company)consists of the company being more effective than competitors in creating,delivering, and communicating customer value to its selected targetcustomers. The marketing concept rests on four pillars: target market,customer needs, integrated marketing and profitability.
Distinctions between the Sales Concept and the MarketingConcept:
1. The Sales Concept focuses on the needs of the seller. The MarketingConcept focuses on the needs of the buyer.
2. The Sales Concept is preoccupied with the seller’s need to converthis/her product into cash. The Marketing Concept is preoccupied with theidea of satisfying the needs of the customer by means of the product as asolution to the customer’s problem (needs).
The Marketing Concept represents the major change in today’scompany orientation that provides the foundation to achieve competitiveadvantage. This philosophy is the foundation of consultative selling.
The Marketing Concept has evolved into a fifth and more refinedcompany orientation: The Societal Marketing Concept. This concept is moretheoretical and will undoubtedly influence future forms of marketing andselling approaches.
The Societal Marketing Concept.
This concept holds that the organization’s task is to determine the needs,
wants, and interests of target markets and to deliver the desiredsatisfactions more effectively and efficiently than competitors (this is theoriginal Marketing Concept). Additionally, it holds that this all must be donein a way that preserves or enhances the consumer’s and the society’s well-being.
This orientation arose as some questioned whether the MarketingConcept is an appropriate philosophy in an age of environmental
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Marketing Management Research M. Khurram Babar ID # 5141
deterioration, resource shortages, explosive population growth, world hungerand poverty, and neglected social services.
Are companies that do an excellent job of satisfying consumer wantsnecessarily acting in the best long-run interests of consumers and society?
The marketing concept possibily sidesteps the potential conflicts amongconsumer wants, consumer interests, and long-run societal welfare. Justconsider:
The fast-food hamburger industry offers tasty buty unhealthy food.The hamburgers have a high fat content, and the restaurants promote fries and pies, two products high in starch and fat. The products are wrapped in convenient packaging, which leads to muchwaste. In satisfying consumer wants, these restaurants may behurting consumer health and causing environmental problems.
Right now more than 70% organizations shifted themselves to SocietalConcept because they work extra for the causes for e.g earthquake hits aregion in a country and for that causes a company works free of cost there ordonate something for that cause . in exchange they are making theirgoodwill and in bonus they are also doing cause related marketing .
Consumer Concept:
Consumer Concept is about consumer`s need and want which aresatisfied by the Companies by producing products according to their
demands .
There are three main concepts related to the customers .
1 Customer is always right
2 Customer is definelty right
3 If you are still confuse in rule #1 & #2 again read them
In past years companies prefer to statisfy their customers but now a
days companies are more preferring to delight their customers by
providing them extra value against the value they given to company
So now a days companies are more focusing on Delighting of
customer as compare to satisfying a customers
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Result :
I select Societal Concept as compare to others because in this concept
we work for the welfare of the society as well as increasing are profits .
