The document discusses the marketing concept, defining it as an organization’s philosophy focused on satisfying customer needs through coordinated activities while achieving organizational goals. It outlines traditional and modern marketing concepts, emphasizing the importance of understanding consumer wants, market segmentation, and the integration of marketing functions for customer satisfaction. Additionally, it explores the significance of marketing for businesses, consumers, and society, as well as the differences between selling and marketing.

1. Marketing Concept
Kulbir Singh

2. Introduction
A correct understanding of marketing concept is
fundamental to the study of modern marketing
and marketing management. Marketing Concept
has two words: Marketing and Concept. A
Concept is a philosophy, an attitude, a course of
thinking, an idea or notion relating to any aspect
of divine and human creations. The philosophy
of an organisation in the dynamic realm of
marketing is referred to as a Marketing concept.

3. Definition
The marketing concept can be defined as, “the
philosophy that an organization should try to
provide products that satisfy customers needs
through a coordinated set of activities that also
allows the organisation to achieve its goals”.
According to Prof, Robert, F, Hartley marketing
concept is, “An integration of marketing
activities directed towards customer
satisfaction”.

4. Types of Marketing Concepts
Traditional Concepts
• Exchange Concept: The Exchange concept holds
that the exchange of a product between the seller
and the buyer is the central idea of marketing.
• Production Concept: The production concept
holds that the consumer prefer the goods which are
easily available at lower prices. Therefore, it is
necessary to produce in large quantities at lower
costs.

5. • Product Concept: It is a belief of the management
that consumers favour the products of superior
quality, better performance and innovative features.
Therefore, successful marketing requires continuous
product planning and development and
improvement in quality standards.
• Selling Concept: This concept assumes that
consumers will not buy goods voluntarily unless the
seller undertakes a large scale selling and
promotional efforts. Selling to be effective, must be
preceded by reversal marketing activities such as
needs assessment marketing research, product
development, pricing and distribution.

6. Modern Concepts
• Marketing Concept: This is the modern concept of
marketing or marketing philosophy. This concept holds that
the primary task of a business firm is to study the needs,
desires and the preferences of the potential consumers and
produce goods which are actually needed by the
consumers. When an organisation practices the marketing
concept, all it’s activities are directed to satisfy the
consumer.
• Social Concepts: According to this concept, the task of
management is to identify and satisfy consumer wants, in
conformity with social interests. Firms should not only
consider consumer wants and profits but also society
interests while making their marketing decision.

7. Holistic Marketing Concept: Holistic marketing
concept is a new marketing concept. Holistic
marketing recognizes that “everything matters” with
marketing- and that a broad, integrated perspective is
often necessary. There are four components of
holistic marketing concept. They are…
• Relationship marketing
• Integrated marketing
• Internal marketing
• Social responsibility marketing

8. Features of Modern Marketing Concepts
• The consumer is the key. Therefore the satisfaction of
consumer is the prime object of an enterprise.
• A business enterprise has dual objectives of customer
satisfaction and profit maximization. Profit is a by-product
of supplying what the customer wants.
• Needs and wants of customers must be identified properly
and deeply before starting production.
• Goods must be produced according to these needs and
wants. In other words, these needs and wants must be
converted into goods and services.
• All the resources of production must be utilized to their
best extent so that the cost of production may be
minimized

9. • Every activity of an enterprise must start with the
customer and end with the satisfaction of customer.
• Customers are classified into groups in the basis of
income, life-style, education, age, volume of purchase etc.
(called market segmentation) and the firm chooses one of
the segments or classes of customers for presenting its
product or service. This selected segment is called target
market.
• Another feature of modern concept of marketing is
integrative marketing. It seeks to co-ordinate various
marketing functions such as advertising personnel,
finance, selling, product management etc., for the
ultimate objective of customer satisfaction.
• Modern marketing concept emphasizes the role of
information as the key to both customer satisfaction and
profitability.

10. Importance of Marketing
Importance to Business
• Awareness and recognition
• Helpful in planning and decision making
• Increased sales and profits
• Building trust
• Helpful in communication between society
and firm

11. Importance to consumer
• Educate people
• Customer satisfaction
• Provide good quality products
• Increase in knowledge
• Provides time and place utility
• Provides marketing information

12. Importance to society
• Marketing helps to achieve, maintain and raise
the standard of living of the society
• Marketing helps to increase national income
• Marketing provides employment
opportunities
• To maintain economic stability and
development
• Development of agriculture and industries

13. Classification of market
On the basis of geographical area
• Local market
• Regional market
• National market
• International market

14. On the basis of time
• Very short-term market
• Short-term market
• Long-term market

15. On the basis of volume of business
• Wholesale market
• Retail market

16. On the basis of competition
• Perfect market
• Imperfect market
Basis of nature of transaction
• Spot market
• Future market
Basis of regulation
• Regulated market
• Non-regulated market
Basis of importance
• Primary market
• Secondary market
• Terminal market

17. On the basis of Goods ( Capital Market)
• Money market
• Stock exchange market
• Foreign exchange market
Basis of nature of product
• Commodity market
• Bullion market

18. Difference between selling and Marketing
Sr.
No.
Selling Marketing
1
2
3
4
5
6
7
Emphasis is on the product.
Company first makes the product
and then figures out how to sell
it.
Management is sales volume
oriented
Profit through sales volume
Planning is short-run-oriented,
regarding today products and
markets
Let the buyer be aware
Product first then customer
Emphasis is on the customer wants
Company first determines customer
wants and then figures out to make it
Management is profit oriented
Profits through Customer Satisfaction
Planning is long-run oriented regarding
new products, tomorrow’s markets, and
future growth.
Let the seller be aware
Customer first then the product

19. Scope of marketing
• Goods
• Services
• Events
• Experiences
• Persons
• Places
• properties

20. Continue…..
• Organizations create awareness
• Information after sales service
• Ideas study customer’s want
• Selling Distribution
• Packaging
• Advertising
• feedback

21. Thanks