There are 5 different concepts of marketing and each of them vary in the function that they deal with.
Production concept is when consumers prefer products that are widely available and inexpensive, also production concept is more operations oriented than any other concept.
Product concept is when consumers favours products that offer the most quality, performance, or innovative features, also product concept believes in the consumer and it says the consumers are more likely to be loyal if they have more options of products, for example, if ‘Fast Lunches’ would have variety of sandwiches like vegan and non-vegan sandwiches or they get more benefits from the product of the company like getting each 5th meal for free.
Selling concept is when consumers will buy products only if the company aggressively promotes or sells these products, as it does Nike. Of course, nowadays, selling is not the only tactic to sell products and services.
Marketing concept is when company focuses on needs and wants of target markets & delivers value better than competitors. The marketing concept believes in the pull strategy and says that companies like ‘Fast Lunches’ need to make brand so strong that customers themselves would prefer their brand over every other competitors of the ‘Fast Lunches’.
Societal marketing concept is when company focuses on needs and wants of target markets & delivering value better than competitors that preserves the consumer’s and society’s well-being.…
