Hello,

* All the companies have different perception and orientation towards the business and the marketplace. They follow different philosophies of marketing. The Marketing concepts are classified into five types:

1. Production concept
2. Product concept
3. Selling concept
4. Marketing concept
5. Societal concept

1) Production Concept

• It emerged during the initial stages of industrial revolution. As per this concept producers believe that customers will buy a product that is inexpensive and available easily and widely. So managers aimed at high production efficiency with low cost and making the product easily available to the customers by mass distribution efforts.

2) Product Concept

• This concept is different from the production concept where instead of high production and low cost, emphasis is on product attributes. In this concept producers believe that customers will buy the products which have best features and attributes like quality, appearance etc. So they stress more on improving the product, modifying it and adding innovative features.

3) Selling Concept

• In this concept producers believe that a customer will buy a product only if aggressive selling and promotion is done for the product Main aim is to maximize the sales volume by aggressive selling efforts. Limitation to this concept is that producers first produce a product and then decide to sell it without identifying what customers want Producers are product-centered ignoring the needs of the buyers. It focuses on the needs of the sellers and aim to earn profits through sales volume. Seller is considered to be the king and customer is viewed as the last link in business.

4) Marketing Concept

• This concept emphasizes on understanding what customer wants and satisfying their needs by means of the product. It constantly stresses on the needs of the buyers. It focuses on the customer and not just on the product Customer is considered to be the king. Companies start from target market, focus on customer’s needs and by means of the integrated marketing earn profit through customer satisfaction more efficiently than their competitors.

5) Societal Concept

• It aims to produce a product in such a way that preserves the society’s well-being. The concept is based on the societal welfare. Companies should not forget the social and the ethical issues in the process of marketing. It emphasizes on efficient utilization of resources, societal welfare and environmental concerns. Consumers are likely to favor organizations which are concerned with meeting their wants, long-run interests, and society’s long-run interests. The organization’s task is to serve target markets in a way that it not only satisfies the wants but also meets long-run individual and social requirements as the key to attract and hold customers.

* Process of Evolution :

• The origin of marketing management dates back to the prehistoric period when the barter system emerged. It was not possible for everyone to produce everything they needed so they eventually started the barter system. In this, two parties exchange the physical products that carry value On mutual agreement. The emergence of barter system led to the growth of modern day marketing.
• During the late 80s in the initial stages of Industrial revolution, there was no competition and producers were able to sell whatever they produced. There was no competition in the market and customers had to purchase the products that were available in the market.
• They believed in production concept which means consumer prefers inexpensive and widely available products, so major emphasis was on high production efficiency. But as more companies came in, producers were unable to sell whatever they produced and product concept emerged where companies started to improve their product features.
• Later in 1920s selling concept came into being, where producers believe in aggressive selling and promotion o fa product or service to create customers. And as the competition increased producers started realizing the value of customers and customer satisfaction. Companies started analyzing what customer need or want and the main idea was to satisfy customers and maximize profits; this led to the emergence of marketing concept.
• Back in 1909 Henry Ford's said a famous quote about the “Model T” was, "Any customer can have a car painted any color that he wants, so long as it is black.
• "The Ford unicolor “Model T” only came in black because the production line required compromise so that efficiency and improved quality could be achieved and multiple colors Means, more costs, more staff, more equipment, results a more complicated process.
• In 1906 US. overcame all Europe and produced 58000 Car comparing to 314 cars in 1902 and Ford ambitions was to produce a car priced at 1000$ comparing to 4000$ the average car price at this time.

* Post Covid-19 society :

• Post Covid-19 Period, The world will be more Nationalized rather than globalized and more computerized and social distances will remain for some good time and that would create a lot of new concept like the remote working and more online services which will could lead to a new kind of Marketing and new innovative ideas which could reshape the old concept of marketing in the near future also the Companies Credibility, Social responsibility and customer loyalty will be a very important key of success in the next era.

* Hope this information helps !!

Hello aspirant,

The marketing concept involves identifying consumer needs and wants and then producing products (which can be goods, services, or ideas) that will satisfy them while making a profit. The Marketing Concept is preoccupied with the idea of satisfying the needs of the customer by means of the product as a solution to the customer's problem (needs). The Marketing Concept represents the major change in today's company orientation that provides the foundation to achieve competitive advantage.

Hope, this answer helps you.

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