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Marketing concepts an evolution


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Marketing concepts an evolution

  1. 1. Marketing Concepts-an evolution
  2. 2. The Production Concept I need lots of food and lots of places to roam about….
  3. 3. The Production Concept The Production concept holds that consumers will favor those products that are widely available and low in cost. Managers are concerned with high production efficiency and wide distribution coverage. Consumers interested in product availability and low price Does service sector follow this model?
  4. 4. The Product concept I will climb to top of tree and get the fruits hanging there. Nobody usually does not climb that much.
  5. 5. The Product concept • The product conceptholds that consumers will favor those products that offer the most quality, performance, or innovative features • Looking at the mirror and not looking out to the window • This concept leads to marketing myopia
  6. 6. The Selling Concept Food…Food…Food… First come first serve
  7. 7. • The customers if left alone, will ordinarily not buy enough of the organizations products. • The organization must therefore undertake an aggressive selling and promotion effort. • The firm’s aim is to sell what they make rather than make what the market wants. • Assumption? The Selling Concept
  8. 8. The Marketing Concept Which one will be my tasty meal today….?
  9. 9. The key to achieving organizational goals consists in determining the needs and wants of target markets and delivering the desired satisfactions more effectively and efficiently than competitors. • Meeting needs profitably. • Find wants and fill them. • Love the customer, not the product. • You come first.(Nissan) • We do it all for you.(Toyota) The Marketing Concept
  10. 10. The Societal Marketing Concept What will they eat today…? Let live and live.
  11. 11. • The organizations task is to determine the needs, wants and interests of target markets and to deliver the desired satisfactions more effectively and efficiently than competitors in a way that preserves or enhances the consumer’s and the society’s well-being. • The Human concept • The intelligent consumption concept • The ecological imperative concept The Societal Marketing Concept
  12. 12. The Marketing Concepts … • Difference between selling and marketing. • Target market. • Customer Needs • Coordinated Marketing. • Profitabilty • Organized resistance • Slow learning • Fast forgetting.
  13. 13. Selling and Marketing.
  14. 14. The Marketing Concepts The marketing concept rests on four main pillars –Target market. –Customer Needs –Coordinated Marketing. –Profitabilty
  15. 15. Target market No company can operate in every market and satisfy every need.
  16. 16. Customer needs 1. Stated needs 2. Real needs 3. Unstated needs 4. Delight needs 5. Secret needs The key to professional marketing is to meet the customers’ real needs better than any competitor can.
  17. 17. Customer satisfaction Customer retention is more critical than customer attaraction Profit rise is not a measure of customer satisfaction. • Satisfied customer.
  18. 18. Coordinated Marketing 1. Various Marketing Functions from customer point of view 2. With other company departments Internal marketing is the task of successfully hiring, training and motivating able employees who want to serve customers well
  19. 19. Bill marriotts Organization chart Customer
  20. 20. Profitabilty Now the key is not to aim profits but to achieve them as a by product of doing the job well • Sales decline • Slow growth • Changing buying patterns • Increasing competition • Increasing marketing expenditure
  21. 21. Organized resistance Customer orientation. • The company’s assests have little value without the existence of customers. • The key company task is therefore to attarct and retain customers • Customers are attracted through competitively superior offers and retained through satisfaction. • Marketing’s task is to develop a superior offer and deliver customer satisfaction. • Customer satisfaction is affected by the performance of other departments.
  22. 22. Slow learning
  23. 23. Fast forgeting Know your target market and how to satisfy them