Various Concepts of Marketing

The major concepts of marketing that have evolved with the time are given below:

• Production Concept
• Product Concept
• Selling Concept
• Marketing Concept
• Societal Marketing Concept
• Holistic Marketing

The production Concept

The production concept is the oldest concept of marketing. This concept believes that consumers give preferences to easily available low-cost goods. Any production oriented organization aims to have high production capacity and cover a wider distribution area. This concept puts emphasis on reducing cost by increasing the quantity of production.

Production concept assumes that as demand exceeds supply concumers have little product choice. The underlying implicit premises of the production concepts are:

• Consumers buy products that are available in the market.
• Consumers buy Products that are affordable.
• Consumers always try to know the prices of the competing products.

Basic principles of the production concept

1. First of all, start business by establishing the factroy to produce the desired product.
2. Focus on producing the desired product as much as possible.
3. Sale maximization  must be achieved through maintenance of low price of product.
4. The goal of marketer should be to maximize profit by efficiency in production.

The Product Concept

The product concept assumes that consumers will favor those products that offer the highest quality for the given price. Both production and product concept emphasis on production of goods. Production concept puts more emphasis on increasing production of goods whereas product concept put emphasis on producing quality goods.The underlying imlicit premises of this concept are:

• Consumers prefer to buy quality products among the competing brands, low quality products are avoided.
• Consumers try to know the quality and feature differences of the competing brand.

Basic principle of product concept

1. First of all, start business by establishing the factroy to produce the  product.
2. Focus should be on production quality.
3. The means of pushing the sale of products should be through product quality and its continuous improvment.
4. The ultimate goal of marketer should be to maximize profit through quality assurance to the people.

The Selling Concept

Sellint concept focuses primarily on how a firm promotes and sells its product.As per this concept, people will buy more products and services if means of aggressive selling is adopted.This concept holds that consumers will not buy enough of the organization's products unless it undertakes a large-scale selling and promotion efforts. The objective of the organization is to sell what they make rather than what the market wants.The underlying imlicit premises to the selling concept are:

• Concumers have a usual tendency to resist buying most of the things that are not essential to them.
• Concumers intrest can be diverted by promotional actuvities.
• Consumers can be induced to buy more through various sales stimulating devices.

 Basic principles of the selling concept

1. First of all, start business by establishing the factroy to produce the  product.
2. Focus on producing the products as per your choice.
3. The means of maximizing the sale of products should be through aggressive selling and promotion tools as much as possible.
4. The ultimate goal of the organization or the marketer should be to maximize profit through high sales volume.

The Marketing Concept

The marketing concepts assumes unless and until products and services are designed on the basis of customer's needs and wants, on marketing objectives can be achieved by the organization. it believes that the key to achieving organizational objectives is to deliver more effective goods than competitors through integrated marketing activities.

Basic principles of the marketing concept

1. Target market focus.
2. Customer needs and wants.
3. Integrated marketing.
4. Achievement of organization goals.

The Societal Marketing Concept

The societal Marketing Concept is the newest form of marketing management philosophy. The societal marketing concept assumes that generating customer satisfaction and long-run societal well-being are keys to achieving both the organizational goals and its responsibilities. The underlying premises of the societal marketing concept are:

• Consumer's wants do not always coincide with their long-run interests or society's long-run interests.
• Consumer's will increasingly favor organization, whisch shows a concern with meeting their wants, long-run interests, and society's long-run interests.

Basic principles of the sicietal marketing concept

1. First of all, identify the target social group that the marketer wants to deal with.
2. Identify and understand the basic needs,wants and problems of the target social group.
3. The means of fullfilling the social needs, wants, and problems should be through integrating or coordinating the socially acceptable marketing tools.
4. The ultimate goal of the organization or the marketer should be to sustain and succeed a business by providing social welfare and well-being and accepting social responsibility.

The Holistic Marketing Concept

The holistic marketing concept is the lately emerged concept of marketing. This concept was developed due to the social and technological challenges. This is needed for marketing to have a board and integrated perspective in the 21st century. This concept helps to improve the power of the marketing to mold and modify the consumer needs.It is the marketing concept that is developed by thinking of the business as a whole .

Basic principles of the holistic marketing concept

• Internal Marketing.
• Integrated Marketing.
• Realtionship Marketing.
• Performance Marketing.