5 Important Marketing Concepts
Business

5 Important Marketing Concepts

Marketing is the study of interrelationships between the customers and the product or service. Marketing is a lot of relationships with and satisfying customers.

Maximize profit, needs of customers, increasing sales are the strategy or concept of marketing. Professionals to get the attention of audiences through advertisements. Catchy slogans and overall media exposures are very important to promote the product. A company’s products or services to customers at the end of ensure profitability. “Get the right message to the right person at the right time” – it is the best slogan for the marketers who want to achieve their goal. Here are some marketing concepts and how to integrate your marketing plan.

We will discuss here marketing strategy with 5 different marketing concepts. These concepts are,

  1. The product,
  2. The production,
  3. The selling,
  4. The marketing, and
  5. The societal marketing

The Product Concept

The Product ConceptIn the product concept, the consumer will prefer products, that they have better quality and better features than the normal products. So, the companies following the product concept with excellent features and innovations for their customers and their satisfaction.

The Production Concept

The production concept is the belief that the low cost of production and more readily available in the market. In business, this concept is the oldest one. In the production concept, the basic proposition is, that the customers will select their products and services. But, in this concept, the businesses run danger. Because companies are not maintaining the quality of products.

The Selling Concept

The selling concept is one of the business orientation. The customers will not buy the company’s products. So the companies promoted their products and take efforts to sale it. This concept is the mirror of the customer. Customers are buying a product only if they needed or like it. If they don’t like it they forget the products for a certain period and buy the product again.

The Marketing Concept

The Marketing ConceptThe marketing concept is the philosophy that the firm should implement the customer’s needs and their satisfaction beat the competition and maximize profit. The marketing concept demands the decisions taken by the company to keep the customers in mind.

The Societal Marketing Concept

The societal marketing concept is the most progressive and applicable. In this concept, an organization believes in giving back to society by producing better products. It helps the world to be a better place. A number of companies adopted the societal marketing concept and achieved sales and profit gains.

All these marketing concepts can help you to achieve the goal. The best strategy is customer-centered philosophy. If you understand the needs of your target to deliver quality products to people who prefer. Doing business without a marketing plan is like driving without a map. One who has a good marketing plan, he has a good chance of being successful. Skill, talent and other strengths are improved your company’s position. Opportunities are helped the company to grow.