Contents
What is Marketing Management?
In the marketing concept, companies start to focus on the customer’s needs customer wants, and how to satisfy their need. When a company puts as its main goal the welfare of customers not only does it stands out, but it also improves its reputation, no matter the industry. Recently, this approach has been implemented in various types of domains, from finance to even gambling. Spotting such a strategy is easy as it can be clearly seen through expertise, professionalism, and transparency. For example, CasinoAlpha expresses this concept not only through content but also through its features who are meant to help customers make informed decisions.
The company stops selling the products that they produce they change the production according to the customer’s needs and wants. This is the first concept for the long-term growth of the company. The company focuses on long-term profit and survival in the market but the drawback of this concept there is no attention is paid to social welfare.
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5 Marketing Management Orientations
Production Concept
This is the oldest concept of marketing under this concept the company focus on the production of whatever they produce that is sold in the market. In this concept, they don’t focus on what customers need. large production means the product is so cheap and affordable that it will be sold in the market. The main disadvantage of this concept is that the customer does not always purchase the easy and cheap available product
Product Concept
The production concept focuses on the better quality of the product. As they think the better product means the customer buys the product easily. But the companies do not care about the customer need and want. They produce the product to the best of their knowledge.
The company thinks that the good quality of the product will be sold easily but in reality, the only quality of the product does not matter that much the price is also matter
Selling Concept
In the selling concept, the marketers think that the production and quality of the product do not lead to the sale so they start attracting the customer towards them. The product needs to be sold by the salesman.
But the sales of the product do not mean the long term growth as the product is sold force-fully and the uses of that product are not good leads to a decrease in the reputation of the company in the market
Marketing Concept
In the marketing concept, companies start to focus on the customer’s needs and what the customer wants, and how to satisfy their need. The company stops selling the products that they produce they change the production according to the customer’s needs and wants. This is the first concept for the long-term growth of the company. The company focus on the long term profit and survival in the market but the drawback of this concept there is no attention is paid to social welfare
Societal Marketing Concept
In this concept, the company focus on the satisfaction of the customer but also on the society will accept it or not. Focus on future generations’ use of resources on the ground they start the use of solar power from the thermal power because of renewable energy.
i.e, the company produce a gas stove that uses less LPG which will help in customer satisfaction and social welfare because it makes less pollution nowadays the Societal Marketing Concept is used by the marketers, and some firm use the marketing concept. But the government force the company to use the Societal Marketing Concept by making rules for CSR (corporate social responsibility)
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