One of the five marketing management orientations is the marketing concept. The marketing concept is based on the belief that a company must create, deliver and market products more efficiently than the competition in order to turn a profit. To implement this concept, managers focus on researching the target market and customer’s needs along with marketing the product in an integrated manner.
The production concept, the oldest marketing concept, is based on a belief that consumers prefer low prices and product availability. To implement the production concept, managers concentrate on low costs, mass distribution and high production efficiency. The production concept is mostly useful in developing countries where consumers are focused on obtaining products, rather than focused on the features of a product.
Another marketing management orientation is the product concept. This concept is based on the belief that consumers prefer high-performing and high-quality products that serve an individual or unusual purpose. To implement the product concept, managers focus on producing superior products with innovative features. Typically, these products are also easily improved over time. One disadvantage of this concept is at times, managers tend to become extremely engaged with their product and lose track of what the consumer actually wants.
The selling concept is based on the belief that consumers and businesses will not purchase products from companies without aggressive selling and promotional efforts. To implement this concept, managers focus on selling what the company creates rather than focusing on making what the consumers want. Managers also focus on creating a comprehensive advertisement campaign to coax consumers into purchasing their products.
Societal Marketing Concept
The final marketing management orientation is the societal, or holistic, marketing concept. This concept is similar to the marketing concept in that a company focuses on the wants, needs and interests of a target consumer market and delivers the product more effectively than any competitor delivers. The societal marketing concept is also based on the belief that a company should carry out the marketing concept in a manner that enhances or preserves society’s well-being. The societal marketing concept takes into consideration how a company’s marking affects society as a whole.