Jul 29, 2019

Basic Concepts Of Marketing Management Basics Ultimate Guide

Marketing, Management, Concept,

Marketing Management Concept

Marketing is the process to exchange  organization's or institution's services and products, knowledge communicating and delivering to their clients and customers. and established good relationship with satisfying customers, clients, partners, and society.

Marketing Management Concepts:

Marketing Management concepts is the tool for the firms, to meet the needs of customers, increase sales, maximize profits and overcome competition. There are five marketing management concepts.
Production Concept,
Product Concept,
Selling Concept,
Marketing Concept,
Societal Marketing Concept.

Production Concept:

The main function of production concept is to provide "Consumers easily available and highly affordable products". This is one of the oldest marketing management concept, that guides for the vendors and Companies to maximize availability and affordable prices,  for their products so they can achieve maximum profits and customer satisfaction. Marketing Managementshould focus on to improving production and distribution efficiency of the products.

Product Concept:

The product concept assumes that, consumers will like the products much more, which will offer the highest quality, performance and innovative features products. Here Under this concept, the marketing strategy should focused on continuous product improvement. The quality and improvement of the product are the most important parts of marketing strategies, so company should make new product according to new needs of the consumers. Let's see a example, a company makes the best quality analog camera. But now days a customer really need a analog camera? Definitely not, the present era is digital era. He wants something new digital camera rather than old analog camera. He wants portable easy light weight digital camera with SD memory card storage, so that the company should not look for the best analog camera. They should concentrate on meeting customer's new needs and innovative products. So the company should stop the production of old analog camera, and should invest in new digital technology of future, and start digital camera production to achieve organization goals.

Selling Concept:

A firm or company using a sales orientation focuses primarily on the sales, promotion of the firm's existing products, rather than setting new or unmet consumer needs or wishes. As a result, it promotes the sale of existing products, uses promotional and direct selling techniques to achieve the highest sales. Selling Concept is generally practice on unsolved items. One study shows that consumer goods companies are more likely to have sales orientations. The most impact factors on sales performance are, salesperson's sales related knowledge of market areas, sales presentation skills, problem solutions and products knowledge,

Marketing Concept:

The marketing concept tells, to know the needs and desires of the target markets, and to distribute the best quality products satisfaction compared to competitors, achieving organizational goals. Marketing management here takes a "customer first" approach. Under the marketing concept, Customer's attention and value are the key value of obtaining sales and profit.The marketing concept is a customer centric emotion response philosophy. This philosophy shows not to find the right customers for your product but to find the right product for your customers.
Marketing Concept is the most common orientation used in contemporary marketing. This is a customer centric approach, which includes all the marketing program around products tailored to the new consumer taste. who adopt a marketing orientation, need to extensive market research to meet consumer desires, use R & D to develop product related information, using consumer's needs and taste. Then tell about the product and to distribute it. The scales designed to measure the overall market orientation of a firm, have been relatively strong and developed in different types of references. There are often three main aspects in marketing orientation, which are, Customer Orientation, A firm in the market economy can survive by producing those items that are ready to buy. Consequently, the demand of consumer is to find out the viability of a firm's future, and even important for survival. Second one is Organizational Orientation, In this orientation a firm's marketing department is often referred to, as the key importance within the functional level of an organization. The information of the marketing department of an organization will be used, to guide the other departments functions. marketing department can find out through marketing research, that consumers want to use a new type of product, or a new changes in an existing product. the Marketing Department will notify the R & D Department to create a prototype of a product or service, based on the new desires of the consumers. The production department will then start manufacturing the product, while the marketing department is promoting, distributing, Pricing etc. a firm's finance department will be consulted, with regard to obtaining proper funds for the development, production and promotion of the new product. There can be inter departmental conflicts, a firm must follow the marketing orientation. The production can oppose the establishment, support and servicing of new product, which may require the creation of a new product. Finance can oppose the required capital expenditure, because it can weaken a healthy cash flow for the organization.
Third one is Mutual money exchange, In the market economy, a firm receives revenue, which leads to higher profits, Market share, sales. On the other hand, a consumer receives the satisfaction of money, demand, utility, reliability and value from purchasing a new product or service.

Societal Marketing Concept:

The question is whether the all marketing concept ignores potential conflicts between the consumer's long desire and long term welfare of the consumer. The social marketing concept holds that, "marketing strategy should provide customers with value, in a way that both Consumer and society maintain or improve ". socially and environmentally responsible marketing. while protecting or enhancing the potential of future generations, to meet their needs. Social marketing concept keeps human welfare at the top, and satisfies all the natural and human hazards violations rules before profit. So that, Global Warming and others natural pollution issues can be minimize. use our pollution free technology resources. Therefore, companies are trying to implement the social marketing concept, either gradually or partially.