Various marketing management
philosophies and concepts
Kotler’s social definition:
“Marketing is a social and managerial
process by which individuals and
groups obtain what they need and
want through creating and
exchanging products and value with
The art and science of choosing target markets
and building profitable relationships with
Requires that consumers and the marketplace
be fully understood.
Aim is to find, attract, keep, and grow
customers by creating, delivering, and
communicating superior value.
A marketing management philosophy that
holds that achieving organizational goals
depends on knowing the needs and wants of
target markets and delivering the desired
satisfaction better than competitors.
The Production Concept
Consumers will favor products that are available
and highly affordable.
The Product Concept
Consumers will favor products that offer the
most quality, performance, and features.
Consumers will not buy enough of the
organization’s products unless the organization
undertake a large-scale selling and promotion
The Marketing Concept
Achieving organizational goals depends on
determining the needs and wants of target
markets and delivering the desired satisfactions
more effectively and efficiently than competitors
The Societal Concept
The organization should determining the
needs, wants and interests of target markets and
delivering the desired satisfactions more
effectively and efficiently than competitors do in a
way that maintains or improve the consumer’s
and society’s well being.
Relationship marketing: the process of
creating, maintaining, and enhancing
strong, value-laden relationships with
customers and other stakeholders.
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