Marketing concepts

 Marketing concept:-

As businessmen have come to recognize that Marketing is virtually important to the success of a firm, an entirely new way of business thinking a new philosophy. Which I'd known as "Marketing concepts' '.

   The concepts is based upon three fundamental benefits they are:-

    1.all company planning and operations should be consumer oriented.

  2. The goal of the firm should be profitable sales and not volume for sake of volume alone.

3. All Marketing activities in the firm should be organizational coordinate.

Evaluation of Marketing concept:-

   Production concept:-

   An operation bases concept where the consumer expects products that are easily available and affordable. Here the business focuses on production efficiency. Lowering cost and mass distribution. This concept works in developing economies where the race is more for the products than the features it offers.

   Product concept-

   A consumer oriented concept where consumers expect products that are superior.high performance will be new features. This concept assumes that customers are likely to be loyal when the product meets all their expectations and so. The business strives to offer innovative products consistently.

Selling concepts:-

   Where the business believe that it products will sell only through active promotion and sale.wiete he usiness elieves thar priduxcts wIl eil omiy tug o the uisuEs uymg *u wl " aacs taet then make pradati l meet the talE needs. Marketing concept-This cnce h arindhaal, cuauparvd o the above an o es target market, its necih and wants and a desire to he better than the Lugetino delivering value to its direct LIAe the earlier concepts that retain punch magictung. il elevEs in pul marketing hy creating hrad lately While the sales concept is Seilet-oriented, the marketing concept is buyer-oriented A inh concept has evolved today, the societal marketing Concept thc ideal utiatianinh concept has evolved today, the societal marketing Concept thc ideal utiatia.

Marketing vs selling:-

We often use the terms markcting and elng unynsi evgT, t s impirtant ta TLTthe difierences etweh mrhetlg an wiE Any makcting plan to successful.

simply stated. selling product/seller-oriented and aims at market snare zation. The business assumes that consumers are waiting for its products and once it is over, the sales force must sell everything using aggressive sales methods.profit maximize production In contrast,the marketing approach is buyer-oriented. It encompasses a broader edge activities that include the entire process of Market research to uncover customer needs, Product planning and development -to make products that meet and sassy Customer needs. Packaging, advertising and promotion -to create awareness and for brand-building Pricing and distribution-for long term revenue generation In short, although the aim of marketing and sales is to increase revenue, marketing aims creating value for the customer and sees the customer as the reason for its existence. Inis

calls for a marketing plan based on the specific needs of the business.

The Marketing plans:-

The marketing plan is the blueprint for the firm's success and will include:

An executive summary to highlight what the marketing plan hopes to achieve with

strategies it plans to use, budget requirements and a system for measuring results.

An overview of the business with a description of its services and products and their

USPs. This includes indirect and direct competition analysis, SWOT analysis describing

product/service mix, pricing, location and positioning.

Target market identification, potential customers and marketing territory with customer

demographics and all relevant information, market segmentation to enable the business

customize its marketing strategy

Marketing goals including sales and market share anticipated for the next three years

The marketing mix:-Marketing sth strategies for product 'service mix Positioning.

Cemix. pricing. promotion. Jocation and

Action action plan for implementation of each marketing strategy with d

synclines and identifying those accountable for achieving them.

" marketing strategy with detailed descriptions.

Budget and sales treats with expense budget for task implementation

forecast figures expected from the marketing plan with rationale. Monitoring and evaluation of results with criteria for success of the marketine pa how its success will be measured to identify what is working so thatching made to meet desired goals.

Any other information relevant to the marketing plan.

Marketing mix:-

he term "marketing mix" is a foundation model for businesses

historically centred around product, price, place, and promotion (also known as the Ps

The marketing mix has been defined as the "set of marketing tools that the fim uses to

pursue its marketing objectives in the target market". Thus, the marketing mix refers to 1our broad levels of marketing decision, namely: product, price, place, and promotion. Marketing practice has been occurring for millennia, but marketing theory emerged in the early twentieth century. The contemporary marketing mix, or the 4 Ps.which has become the dominant framework for marketing management decisions, was first published in 1960. n

services marketing, an extended marketing mix is used, typically comprising 7 Ps, made up of the original 4 Ps extended by process, people, and physical evidence. Occasionally

service marketers will refer to 8 Ps, comprising these 7 Ps plus performance. The Marketing Mix is a tool used by businesses and Marketers to help determine a product or brand's offering. The 4 Ps have been associated with the Marketing Mix since their creation by E. Jerome McCarthy

in 1960 (You can see why there may have been some need to update .