Hello all, welcome back to my another post, this post is going to be on marketing concept where we are going to see all five concepts of marketing.
So let's start, the marketing concept is a philosophy which provide us an idea that brand should analyze the needs of their potential customers and make efforts to satisfy those needs.
Marketing is a department of management that tries to do right things, that make their customers happy and as a result they can sell maximum goods and services into the market and can get the trust of the customers.
This concept is originated from Adam Smith's book The Wealth of Nations but would not become widely used until nearly 200 years later.
Marketing Concepts are directly related with three things whether they need, want and demand what does need. Need is the basic human requirements like shelter, clothes, food, water etc.
These are essential for human beings to survive, this is something necessary for people to live a healthy stable and safe life.
When needs remain unfulfilled, these the clear adverse outcome which result in death. Therefore we relate need with the necessity with the basic requirement without, which we can't leave, because survive.
Second we have want won't we see it as desire of someone thanks, without which we can survive but we need them for providing us higher satisfaction, for example we want one phone, but without the phone also we can survive.
Third we have demand, demand something which we are willing and able to by, demand something that you want to buy or consume and your pocket allows its consumption.
That is you can afford for it thus, bad thing become your demand for example, I have thousands of rupees in my pocket and I want to see a movie, was ticket is worth rupees 500.
Since I want it and I can afford it, so I demand a movie ticket. So here we have seen all these three terms what does need without, which we can't survive.
What is want, which is a step ahead without which we can survive, but we wanted to satisfy ourselves more, what is demand we want to buy something and we have enough money to buy that product.
That means that product as mine demand, so here we have seen the three things which are directly related with Marketing Concept.
Next we have find Marketing Concepts what are the first Production Concept, second Product Concept, third Selling Concept, fourth Marketing Concept and five so Societal Marketing Concept, now let us see all these terms in detail.
First point we have Production Concept, this concept is the oldest of the concepts in business, it holds that consumers will prefer product that are widely available and inexpensive.
Managers focusing on this concept concentrates on achieving high production efficiency, low cost and mass distribution they assume that consumers are primarily interested in product availability and low prices.
This orientation makes sense in developing countries, where consumer are more interested in obtaining the product, than in its features.
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