There are 5 different concepts of marketing, each of which vary in the function that they deal with. For example – production concept deals with production and selling concept deals with selling. Each of the concept was developed as per the need of the market. As the market changed, so did the concepts of marketing. And today, we have an opportunity to look at all 5 concepts of marketing and what they represent.
The article lists out the concepts of marketing in a very brief manner. You can click on each link to know more about each individual concept of marketing.
1) Production Concept
2) Product Concept
Consumers favor products that offer the most quality, performance, or innovative features. The product concept believes in the consumer and it says the consumers are more likely to be loyal if they have more options of products or they get more benefits from the product of the company. Click here to read more about the Product Concept
3) Selling Concept
Consumers will buy products only if the company aggressively promotes or sells these products. Off course, in this era of marketing, we know that selling is not the only tactic to sell your product. You have to focus on marketing as well. Click here to read more about the Selling Concept
4) Marketing Concept
Focuses on needs/wants of target markets & delivering value better than competitors. The marketing concept believes in the pull strategy and says that you need to make your brand so strong that customers themselves prefer your brand over every other competitor. This can be achieved through marketing. Click here to read more about the Marketing Concept
5) Societal Marketing concept
Focuses on needs / wants of target markets & delivering value better than competitors that preserves the consumer’s and society’s well-being. Click here to read about the Societal Marketing concept