Evolution of marketing concepts:
Production Concept:
The production concept is one of the oldest concept.
What is production concept?
"Consumer prefer the products that are widely available and low cost"
Production concept is based on consumer preference towards the product which is vastly available in the market place and cheaper in price.Companies concentrate on production concepts to lower the cost by achieving economies of scale and mass production.
Production concept is used when a company wants to expand the market.
Product Concept:
"Consumer prefer the products that offer more quality,performance or innovative."
The product concept is based on the nature of the "product" the consumer prefer.
Consumer prefer the product which gives them more comfort, was the idea behind this concept.
The product concept is based on the nature of the "product" the consumer prefer.
Consumer prefer the product which gives them more comfort, was the idea behind this concept.
Marketing activities are focused on the value of the products that consumer gets and priced accordingly.
Selling Concept:
Selling concepts are based on selling a product by aggressive promotional activities.
The selling concept binds the seller and consumer.
Marketing concepts focused more on customers needs and satisfying the customers.
Profits are focused on satisfying customers over long time.
The Holistic Marketing concept is developed by thinking about the business as a whole, such as Economy, Society, and nature of the customers.
The selling concept binds the seller and consumer.
Marketing concept:
Marketing concept is based on identifying the customers needs and wants.Marketing concepts focused more on customers needs and satisfying the customers.
Profits are focused on satisfying customers over long time.
Holistic Marketing Concept:
The Holistic Marketing concept is developed by thinking about the business as a whole, such as Economy, Society, and nature of the customers.
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