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Guide: Marketing Management Philosophies and Process – Definition
Marketing management philosophies and processes: From the views of the marketing management, is an integration of the planning, organization, implementation and control of marketing activities to achieve consumer satisfaction along with organizational objectives. In other words, we can say that their activities result in the exchange of goods and services. A company will focus on the large-scale production of goods and services.
In short, marketing management means choosing a target market, growing customers in the target market, and creating superior value.
According to Philip Kotler, “Marketing management is the art and science of choosing target markets and acquiring, maintaining, and growing customers by creating, delivering and communicating superior customer management value.”
Management philosophies focus on meeting customer needs. The process of marketing management philosophies identified by the following activities:
The marketing production concept holds the view that potential exchange would take place when products are widely available and inexpensive. Some other companies believe that products are easy to sell when they are inexpensive and widely available. So, the firm focuses on reducing the cost of production through mass production and distribution as production. It is from the quantity of product. It was believed that profit maximization could be achieved by increasing the level of production, leading to an economical method of scale and lower cost of production. In terms of production, the availability and affordability of the product were considered the main criteria for the success of any organization. The disadvantage of this concept is that the customer does not buy cheap and available products. It mainly focuses on large-scale production to lower the cost.
Companies that follow the product concept of marketing propose that the way to achieve the objectives of the organization is high product quality. Its concept suggests that quality products are always preferred and therefore efforts should be directed towards continuous improvement. The drawbacks of this concept are that these companies make the highest quality products but must bear in mind that customers will buy the highest quality product only when they need or want it, quality alone is not enough to force. The company will also incur research and development expenses for continuous product improvement. T focuses primarily on the good quality of the product rather than its quantity.
the Sale concept Marketing aims to influence customers to buy what a business has to offer. You can convince customers by undertaking some aggressive sales and promotion efforts. Customers have no intention of buying the product. Businesses that rely on selling a concept use advertising powers and other persuasive techniques to influence customers. By selling the concept, the product sells through thick and thin. The drawbacks of this concept are that it focuses on the requirements and needs of the producers and what is produced. They do not try to find out these requirements and needs of the customers. Sell relying on the manipulation of the buyer. It is primarily focused on selling the product, whatever is produced, using intensive promotional techniques.
the marketing concept of marketing management focuses on the needs of customers. This concept means that the product must be designed and produced with the customer’s need in mind. They also try to meet the need better than their competitors. In marketing, concept companies do not sell what they have, but what they produce and sell what customers want.
Is outgoing features are as follows:
- Market identification or customer targeting.
- Identify your needs and wants.
- Develop a product to meet your needs and wants.
- Meet your needs better than the competition.
- Performing all these functions for profit.
It is primarily focused on customer satisfaction.
the social concept of marketing management argues that the organization’s task is to determine the needs, wants, and interests of the target markets and to deliver the desired satisfaction more effectively and efficiently than competitors in a particular way that preserves and enhances well-being of clients and society. So it has also attracted criticism from some people who are very concerned about society and the environment. They argue that companies should not pursue the goal of customer satisfaction. This can lead to many social and environmental ills. Customer satisfaction must be within the ecological ethical aspects of our society. It is primarily focused on profit through customer satisfaction and social welfare.
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