Concepts of marketing are based on consumers satisfaction; where it discusses how businesses analyze the needs and the benefits they could offer rather than thinking of competition.
It is like having small groups within the business wherein it focuses on a specific objective for the benefit of the consumers. Below are the basic concepts of marketing you should know about.
It focuses on how the product should be marketed and identifies its target consumers. It is said that the success of the business depends on how they go about the plan on what marketing strategies to be used in order to have a specific target with a specific result. This tackles on how to keep the company on the line despite a drastic change in consumer behavior.
In this area, Production concept tackles mainly on manufacturing, producing and competence of the product. It gives emphasis to the quantity produced wherein it answers the demand of the consumers; wherein if more products are produced would there be more consumers expected to buy. Quantity is the main concern of this concept; the quality is not really given enough attention. Check out for the best digital marketing 2017.
The product concept is all about what the company will offer to the consumers this is opposite to what production concept is focused on. In this area, the product is given enough attention and the benefit it could offer the target consumer; it tackles about quality, durability, and good feedbacks of the product. It is also where the consumers are given ample attention in regards to the benefits and how satisfied they are to the product.
Product concept believes in the idea that quality is the reason why consumers still buy the product and would be considered as something they have tested and proven with a good quality.
Societal Concept of Marketing
Societal Concept focuses more on the needs and desires of consumers. It deals more on the giving part of the business where the attention is channeled to hearing what the market needs and answering its concerns linked to your product or service. Thus, other business formed an organization that the main goal is to identify what the consumers are looking for; with this, the company will provide their needs that might result to increase in profit and stabilize the social image, reputation of the product, and the market standing of the company.
READ ABOUT: 3 Simple Thoughts in Making a Marketing Plan
Promotion concept is where you sell products or services that are not necessarily needed; such as educational insurance, life insurance, cleaning services, fighting tools and etc. Some company is using promotional concept wherein consumers are persuaded to buy or avail the product or service; some uses the idea of “on sale” products and “closing out sale” idea though they’re not really closing at all.
With this concept, consumers are lured to buy the product, overlooking the thought if it is really needed or not. This idea is also applicable to companies that are wise in selling their unsold products; they develop selling efforts such as discounts, tie-ups, and other enticing ideas to promote the product. In a different angle, this concepts is also often used by companies that are having problems in terms of income; thus, thinking that in promoting their product the income would increase. Click here for more.