1) THE PRODUCTION CONCEPT
•ERA: Prior To 1920s
- Mass Production @ Lowest Cost
- Distribute @ Affordable Price
- No Option For Consumer
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Philosophy:-
- The idea that consumers will favor products that are available and highly affordable.
2) THE PRODUCT CONCEPT
•ERA: Since 1920s To 1950s
- Build A More Innovative product
- Build A Better Mousetrap
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Philosophy:-
- The idea that consumers will favor products that offer the most quality, performance and features and that the organization should therefore devote its energy to making continuous product improvements.
- “A good product will sell itself.”
3) THE SELLING CONCEPT
•ERA: Prior To 1950s
- Few Product: Sell, Sell, Sell
- Largest Volume At Any Price
- Focus On One Time Transaction
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Philosophy:-
- The idea that consumers will not buy enough of the organization’s products unless the organization undertakes a large scale selling and promotion effort.
- “Creative advertising and selling will overcome consumer’s resistance and convince them to buy.”
4) THE MARKETING CONCEPT
•ERA: Since 1950s
- Putting Customer’s Needs, Their Concerns, Their Necessities On The Top Level
- What Customers want Is Most Important
- The Customer Is King
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Philosophy:-
- The idea that holds that achieving organizational goals depends on knowing the needs and wants of target markets and delivering the desired satisfactions better than competitors do.
- “The Consumer Rules! Find A Need And Fill It.”
5)THE SOCIETAL MARKETING CONCEPT
•ERA: Since 1990s
- Marketing Affects Society
- Marketing Looks At The Society In Which It Operates
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Philosophy:-
- The idea that ….. In a way that maintains or improves the consumer’s and society’s well-being.
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