Marketing
There are basically 5 different concepts of marketing, each of which vary in the function that they deal with. Michimedia will come up with an appropriate technique to market you products and services. Each concept is developed as per the need of the market. As the market changes, so does the concepts of marketing.
Below are 5 concepts of marketing and what they represent.
1. Production concept
2. Product concept
3. Selling concept
4. Marketing concept
5. Societal marketing concept
Production Concept
Consumers prefer products that are widely available and inexpensive. The production concept is more operations oriented than any other concept.
Product Concept
Consumers favour products that offer the most quality, performance, or innovative features. The product concept believes in the consumer and is based on the fact that consumers are more likely to be loyal if they have more options of products or they get more benefits from the product company.
Selling Concept
Consumers will buy products only if the company aggressively promotes or sells its products or services. Off course, in this era of competitive marketing, we know that selling is not the only tactic to sell your product but focus on market expectations is equally essential.
Marketing Concept
Focuses on needs of target markets & delivering value better than competitors. The marketing involves coming up with strategy and strengthening of your brand so that customers themselves prefer your brand to your competitor.
Societal Marketing concept
Focuses on needs of target markets & delivering value better than competitors that preserves the consumer’s and society’s well-being