Understanding Marketing Concepts and Holistic Marketing Dimensions

COMPANY ORIENTATION TOWARD THE MARKETPLACE

The production concept is one of the oldest concepts in business. It holds that consumers prefer products that are widely available and inexpensive. Managers of production-oriented businesses concentrate on achieving high production efficiency, low costs, and mass distribution. Marketers also use the production concept when they want to expand the market.

The product concept proposes that consumers favor products offering the most quality, performance, or innovative features. A new or improved product will not necessarily be successful unless it’s priced, distributed, advertised, and sold properly.

The selling concept is based on hard selling is risky. It assumes customers coaxed into buying a product not only won’t return or bad-mouth it or complain to consumer organizations but might even buy it again. (Achieve that the public buy your product and not the competence one).

Unsought goods: Goods buyers don’t normally think of buying such as insurance and cemetery plots. When firms with overcapacity aim to sell what they make, rather than make what the market wants.

The marketing concept philosophy is that the job is to find not the right customers for your products, but the right products for your customers. The marketing concept holds that the key to achieving organizational goals is being more effective than competitors in creating, delivering, and communicating superior customer value to your target markets. Selling focuses on the needs of the seller; marketing on the needs of the buyer. Selling is preoccupied with the seller’s need to convert his product into cash; marketing with the idea of satisfying the needs of the customer by means of the product and the whole cluster of things associated with creating, delivering, and finally consuming it.

THE HOLISTIC MARKETING CONCEPT

“Marketing Memo: Marketing Right and Wrong” suggests where companies go wrong—and how they can get it right—in their marketing. The holistic marketing concept is based on the development, design, and implementation of marketing programs, processes, and activities that recognize their breadth and interdependencies. Holistic marketing acknowledges that everything matters in marketing—and that a broad, integrated perspective is often necessary.

HOLISTIC MARKETING DIMENSIONS

Four broad components characterizing holistic marketing:

RELATIONSHIP MARKETING: Customers, employees, marketing partners (channels, suppliers, distributors, dealers, agencies), and members of the financial community (shareholders, investors, analysts).