Ans: - marketing management wants to design strategies that will build profitable relationships with target consumers.
There are five alternative concepts under which organizations design and carry out their marketing strategies:
1)The Production Concept
The idea that consumers will favor products that are available and that the organization should therefore focus on improving production and distribution efficiency.
2)Product Concept
The idea that consumers will favor the products that offer the most quality, performance, and features and that organization should therefore devote its energy to making continuous product improvements.
3)Selling Concept
The idea that consumers will not buy enough of the firm`s products unless it undertakes a large-scale selling and promotion effort.
4)Marketing Concept
The marketing management philosophy that holds that achieving organizational goals depends on knowing the needs wants of target market and delivering the desired satisfactions better than competitors do.
5)Societal Marketing Concept
A principle of enlightened marketing that holds that a company should make good marketing decisions by considering consumers` want, the company`s requirements, consumer`s long-run interests, and short-run interests.
There are five alternative concepts under which organizations design and carry out their marketing strategies:
1)The Production Concept
The idea that consumers will favor products that are available and that the organization should therefore focus on improving production and distribution efficiency.
2)Product Concept
The idea that consumers will favor the products that offer the most quality, performance, and features and that organization should therefore devote its energy to making continuous product improvements.
3)Selling Concept
The idea that consumers will not buy enough of the firm`s products unless it undertakes a large-scale selling and promotion effort.
4)Marketing Concept
The marketing management philosophy that holds that achieving organizational goals depends on knowing the needs wants of target market and delivering the desired satisfactions better than competitors do.
5)Societal Marketing Concept
A principle of enlightened marketing that holds that a company should make good marketing decisions by considering consumers` want, the company`s requirements, consumer`s long-run interests, and short-run interests.
