The Five Concepts of Marketing

There are no doubts that modern business is changing its nature day by day and we have to tackle all the changes as per the requirements to meet the demands of the required changes. But certain concepts cannot be changed at any cost such as the five marketing concepts that are considered pillars of marketing.

Marketing Essay Writing

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What Is Marketing?

Marketing is considered as the business excellence that is involved in promoting in selling the products or services. It further includes the process of market research and advertising respectively.

5 Concepts of Marketing

Marketing concepts are basically related to the philosophy where a business identifies the need of the customers which benefits both of the parties, that are a customer and the supplier. It doesn’t mean that all kind of businesses uses the same marketing concepts. The basic purpose of the marketing concepts is to provide the best marketing strategies to achieve their objectives in the best possible way and further works to get more effective results than the competitors.

Let’s see the five concepts of marketing that can help organisations effectively and efficiently.

Production Concept

The production concept was developed from the very beginning of capitalism and dominated the market furiously. Throughout the year of production concept, there were concerns about the basic issues for production and manufacturing. It was the concept of the companies that customers will only approach the products that are based on low cost and are easily approachable. The approach of companies for the production concept was that they can increase their supply if they decrease the cost. This concept was basically build to lower the cost using mass production. However, there is no doubt that mass production always decreases costs and enhances gains.

Selling Concept

The production concept was all about the manufacturing and production of the product, however, on the other side of the picture the selling concept is all about the sale of the product. The selling concept is much focused on the sale of the product without any intentions of quality or the demand of the customer. The basic purpose of the selling concept is a belief that customers would definitely buy a product if the companies are keen to sell the product effectively, aggressively, and efficiently. Repeated sales are difficult in the selling concept but they are not concerned with customer satisfaction at all.

The Marketing concept

This particular concept consists of the belief that customers are the center of an organisation. In the marketing concept, the customer is the main focus of the organisation and the prime objective is customer satisfaction. The marketing concept helps businesses to find the need and wants of the customers. In this concept, the organisation first conduct research for the needs of the customers and execute the marketing strategies accordingly for the desired results of maximum customer satisfaction.

The Societal Marketing Concept

The societal marketing concept is considered as a new marketing concept that helps to highlight the needs and wants of the targeted market and to perform better than the competitors. It is also highly focused on customer satisfaction. However, the basic purpose of the societal marketing concept is to emphasize the well-being of the customers and as a society.

The Product Concept

The product is entirely based on the presumption that our customers always go for the products that are of high quality and price and none of them actually influence the decision of their purchases. Therefore, companies produce products that are of high quality with high prices such as giant IT companies who always tried to update their products in order to differentiate themselves from the competitors.

Conclusion of The Facts:

There has been a significant change seen in the market during the past few years. The best thing about the change is that it has reformed in favor of the customers as it is more focused on customer satisfaction rather than products.

The Five Concepts of Marketing
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