Conceptual development of marketing

 Conceptual development of marketing

It refers to the study of philosophies that are/were adopted by companies in their marketing efforts. The various concepts are explained below:

• Production concept: It is one if the oldest concepts in business. This concept emphasizes high production, low costs and mass distribution. It holds that consumers will prefer products that are widely available and inexpensive.

• Product concept: the product concept holds that consumer will favor these products that offer the most quality, performance or innovative features. Managers in these organization focus on making superior products and improving them over time. A new or improved product will not necessarily be successful unless the product is priced, distributed, advertised, and sold properly.

• Selling concept: this concept holds that an organization must undertake an aggressive selling and promotion efforts. The selling concept is clearly explained is the saying of Sergio Zymen , Coca Cola “The purpose of marketing is to sell more stuff to more people more often for more money in order to make more profit”.

• The marketing concept: according to this concept the job is not to find the right customers for your products, but the right products for your customers. The ultimate goal, according to this concept is customer satisfaction.