Six Distinct Concepts Of Marketing

Concepts of Marketing

The vi concepts of marketing are depicted in addition to listed below.

Image credits © Prof. Mudit Katyani.

These include:

1. The concept of Exchange,
2. The concept of Production,
3. The concept of Product,
4. The concept of Sales,
5. The concept of Marketing, and
6. The concept of Societal.

Now let's verbalize over the vi distinct concepts of marketing.

1. Exchange Concept gives importance to the telephone commutation of goods in addition to services. Here, consumers guide maintain to guide maintain those goods that are available inwards the market. This stance does non give importance to quality, consumers satisfaction, etc. It is a traditional concept of marketing. This concept was inwards role earlier the industrial revolution. It is an old, outdated in addition to narrow concept of marketing.
2. Production Concept gives importance to the production of goods. This concept is production-oriented. Here, goods are produced in addition to distributed on a large scale. According to this concept, the consumers volition buy those products that are readily available in addition to are depression inwards cost. During the industrial revolution, this concept was widely used. Today, this concept is solely used inwards the tertiary globe countries. In these countries, the demand is to a greater extent than than supply. So the consumers are to a greater extent than interested inwards purchasing the product. They don't pay much attending to the character of the product. Developed countries don't follow this concept. In these countries, the consumers are to a greater extent than interested inwards the product quality.
3. Product Concept gives importance to the character of the product. This concept is product-oriented. Here, adept character products are produced in addition to distributed on a large-scale. The companionship goes for production excellence. That is, they laissez passer on improving the character of the product. According to this concept, the consumers volition solely buy adept character products. This stance does non give whatsoever importance to the needs, wants in addition to problems of the users. Here, products are non made according to the needs in addition to wishing of the consumers. So this concept does non concentrate on the consumer. It solely focuses on the product. Therefore, this stance is non accepted.
4. Sales Concept gives importance to sales advertisement techniques. Here, the production is pushed into the marketplace past times aggressive advertising in addition to publicity, personal selling, discount offers, gifts, attractive packages, etc. According to this concept, the sales volition growth solely past times using sales advertisement techniques. That is, the consumer must locomote induced (attracted) to buy the product. This concept is sales-oriented. It does non give whatsoever significance to the needs in addition to wants of the consumers. Companies who guide maintain excess production capacity in addition to who facial expression upwardly a lot of contest role this concept. However, this is non useful for all marketing situations.
5. Marketing Concept gives importance to consumers in addition to service. This concept is consumer-oriented. In fact, this concept is equally good called Consumer-Orientation Concept. According to this concept, the companionship must commencement notice out the needs in addition to wants of the consumers. Then they must satisfy these needs in addition to wants.Here, the consumers are the principal focus of a business. They are the centre of all marketing activities. They are given a lot of importance. This concept started inwards 1950.
6. Societal Concept gives importance to consumer satisfaction, social welfare in addition to company's profit. This concept is social-oriented. According to this concept, the companionship must satisfy society. The companionship must create products that are salubrious for the consumers in addition to friendly to the environment. The companionship must perform all its social obligations similar pollution control, surround protection, non harming the ecology balance, doing social welfare activities, etc. This concept started inwards 1980. This concept is broad, dynamic in addition to socially significant. Today this concept is universally accepted.

We tin conclude that marketing goes on evolving (changing). Now, Exchange Concept, Production Concept, Product Concept in addition to Sales Concept are outdated. Today, marketing has teach out to a greater extent than consumer in addition to social oriented.