Review of Marketing Concepts

1. Entrep 2: Opportunity Seeking
Ms. Siera B. Belardo
Instructor

2. Entrep 2: Opportunity Seeking
Lesson Objectives:
Topic 7: Review of
Marketing Concepts
1. define what is
marketing concepts;
and
2. discuss the 5
marketing concepts.

3. Entrep 2: Opportunity Seeking
Marketing Concepts
is the strategy
that firms
implement to
satisfy customers’
needs, increase
sales, maximize
profit, and beat
the competition.
https://www.iedunote.com/marketing-concepts

5. Production Concept
“Consumers will
favor products
that are available
and highly
affordable.”
https://www.iedunote.com/marketing-concepts
1

6. Production Concept
● Management focuses
on improving
production and
distribution
efficiency.
● The firm try to
minimize production
costs by making the
production process
efficient.
https://www.iedunote.com/marketing-concepts

7. Production Concept
https://www.iedunote.com/marketing-concepts
This production concept is
found to be applicable if
two situations prevail.
1. When the demand for a
product exceeds supply.
2. If the production costs
are very high, that
discourages consumers
from buying the
product.

8. Product Concept
“The product
concept holds
that consumers
will favor products
that offer the
most quality,
performance, and
innovative
features.”
https://www.iedunote.com/marketing-concepts
2

9. Product Concept
● Marketing strategies
are focused on
making continuous
product quality and
improvements.
● The firm tries to
improve its products
in terms of quality,
performance and
any feature.
https://www.iedunote.com/marketing-concepts

10. Selling Concept
“The selling concept
holds the idea-
consumers will not
buy enough of the
firm’s products
unless it undertakes
a large-scale selling
and promotion
effort.”
https://www.iedunote.com/marketing-concepts
3

11. Selling Concept
● The management
focuses on creating
sales transactions
rather than on
building long-term,
profitable customer
relationships.
● The aim is to sell what
the company makes
rather than making
what the market wants.
https://www.iedunote.com/marketing-concepts

12. Marketing Concept
“Achieving
organizational goals
depends on knowing
the needs and wants
of target markets and
delivering the desired
satisfactions better
than competitors do.”
https://www.iedunote.com/marketing-concepts
4

13. Marketing Concept
● Marketing management
takes a “customer first”
approach.
● Marketing starts with the
market, focuses attention
on customers’ needs, and
attains profit through
customer satisfaction with
coordinated marketing.
● All aspects of company
operations are aimed at
satisfying customers’ wants
and desires and to increase
profit volume.
https://www.iedunote.com/marketing-concepts

14. Marketing Concept
4 Main Pillars:
1. Market Focus
The marketing concept
suggests that a company
should focus its attention
on marketing rather than
production and selling.
https://www.iedunote.com/marketing-concepts

15. Marketing Concept
4 Main Pillars:
2. Customer Orientation
The company’s success
must focus on customer
orientation, i.e., carefully
defining customer needs
from customers’ points of
view.
https://www.iedunote.com/marketing-concepts

16. Marketing Concept
4 Main Pillars:
3. Coordinated Marketing
To be successful, all
marketing functions must be
coordinated among
themselves, and second,
marketing itself must be
well-coordinated with other
departments.
https://www.iedunote.com/marketing-concepts

17. Marketing Concept
4 Main Pillars:
4. Profitability
The end of the marketing
concept is to make profits
through customer satisfaction.
This suggests that profit is to
be made by satisfying
customers’ needs.
https://www.iedunote.com/marketing-concepts

18. DIFFERENCE BETWEEN SELLING CONCEPT AND MARKETING CONCEPT

19. Societal Marketing
Concept
“Marketing strategy
should deliver value
to customers in a
way that maintains
or improves both the
consumer’s and
society’s well-being..”
https://www.iedunote.com/marketing-concepts
5

20. Societal Marketing
Concept
● It calls for sustainable
marketing, socially and
environmentally
responsible marketing that
meets consumers’ and
businesses’ present needs
while also preserving or
enhancing future
generations’ ability to meet
their needs.
● The Societal Marketing
Concept puts human
welfare on top before
profits and satisfying the
wants.
https://www.iedunote.com/marketing-concepts

21. https://www.iedunote.com/marketing-concepts
Conclusion:
Companies Follows
a mix of Marketing
Concepts in
Real-world

22. https://www.youtube.com/watch?v=pJOTp6t-c8A

23. https://www.iedunote.com/marketing-concepts
Pre - Final Assessment #1:
Short Essay
Which among the five marketing
concepts you will follow and
practice in your business
operation? Why? Support your
answer minimum in 5 sentences.
(Production Concept, Product
Concept, Selling Concept, Marketing
Concept, Societal Marketing
Concept)
Due date: June 3, 2022

24. Thank
you!