Marketing Concept
Business concept of marketing are the philosophy, which provides the guidelines to the organization. These concepts are still practiced by organization in market. There are various concepts of marketing. They are as following:
- Production Concept
- Product Concept
- Selling Concept
- Modern Marketing Concept
- Societal Marketing Concept
- Holistic Concept
Marketing concept in comparative form
| Concepts | Focus | Means | End/Objectives |
|---|---|---|---|
| Production Concept | Production |
Mass production Low cost |
Profits through production efficiency |
| Product Concept | Product quality orientation |
High quality Performance Innovation |
Profits through quality products |
| Selling Concept | Seller needs | Heavy promotional efforts | Profit through high sales volume |
| Modern Marketing Concept | Customers needs | Integrated marketing | Profits through customer satisfaction |
| Social Concept | Social responsibility | Responsible for social and ethical issues | Profits through customer and social well-being |
| Holistic Concept | Response to changes in the current marketing environment | 4Ps, 4Cs, and 4Ss | Organizational profits, customer well-being, and social well-being |