what are the marketing concepts

Hello aspirant,

This is a business philosophy that challenges the above three business orientations.Its central tenets crystallized in the 1950s.It holds that the key to achieving its organizational goals (goals of the selling company) consists of the company being more effective than competitors in creating, delivering, and communicating customer value to its selected target customers. The marketing concept rests on four pillars:target market, customer needs, integrated marketing and profitability.

Distinctions between the Sales Concept and the Marketing Concept:

1.The Sales Concept focuses on the needs of the seller.The Marketing Concept focuses on the needs of the buyer.

2.The Sales Concept is preoccupied with the seller’s need to convert his/her product into cash.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 .This philosophy is the foundation of consultative selling .

The Marketing Concept has evolved into a fifth and more refined company orientation:The Societal Marketing Concept. This concept is more theoretical and will undoubtedly influence future forms of marketing and selling approaches.

All the best for your future