The term marketing may be defined as the process or a way through the value is created to the customers for the purpose of satisfying their needs and wants. The process of marketing usually involves a number of actions which may be endless. These actions are involves the company which is trying to meet the demands of the customer at the market place. It also includes the various reactions of the customers with regard to the marketing efforts made by the business organization. Every marketing effort has a primary objective of meeting the needs and the wants of the target customers of the firm.
An organization has to implement a number of concepts so that the marketing efforts may be a success. Marketing concept is the term that is used to refer to these concepts. The concepts of marketing are a series of strategies that are utilized by the firms so as they can meet the needs and wants of the customers. So that the firms may also beat the competitors existing in the market, the marketing concepts may also be used. The production concept, the product concept, the selling concept, marketing concept and the societal marketing concept are the concepts which a firm may choose to implement.
The first concept of marketing is the production concept which holds that the products which have the high availability are the ones that most of the customers will favor. Such products to also be favored are those which are affordable to the customers. So that the products may have a high availability, the firms should the focus of continuous production. The product concept provides that consumers will embrace the products which have high quality. The quality in this case may be in terms of performance and unique features which are more innovative. continuous improvement to the products is what the firm will concentrate on if it chooses to leverage on this concept. On the other hand, the selling concept provides that most customers will buy more of a product if the firm undertakes large scale efforts in product promotion.
What the marketing concepts holds is that the firm has to understand the various needs of the customers. The firm utilizing this strategy has to however design and deliver products and services which are more likely to meet the needs of the consumers in better way than the products of the competitors will do. When using this strategy, the philosophy which is applied is “customer first”. The last concept is the societal marketing which holds that the process of meeting the needs of the customers by the organization has to be accomplished in a way that will maintain and improve the wellbeing of the society.