What is a Marketing Concept? 6 Types Of Marketing Concept

What is a Marketing Concept? 6 Types of Marketing Concept.

What is a marketing concept, Marketing is a key business strategy that centers around understanding and serving the needs and wants of consumers while attaining the organization’s objectives. It is a dynamic and ever-evolving discipline that plays a significant part in the development of any organization or brand.
Overall, the marketing idea is a customer-centric mindset that emphasizes the necessity of recognizing and meeting client requirements and wants. By adopting this approach, firms may establish a competitive edge, create brand loyalty, and achieve sustainable growth in the ever-changing global marketplace.


Studies demonstrate that various firms have varied perspectives on marketing. And these various impressions have led to the emergence of different concepts of marketing, such as.

1. The Exchange Concept
2. The Production Concept
3. The Product Concept
4. The Selling Concept
5. The Marketing Concept
6. The social Marketing idea.

1. The Exchange Concept

The exchange concept of marketing, as the very as its name suggests, thinks that the exchange of a product between the seller and The customer is the basic concept of marketing. While exchange does constitute a significant aspect of marketing, to consider marketing as a simple exchange process would amount to a major weakening of the essence of marketing. A proper A review of the marketing process would quickly indicate that marketing is much broader than trade. Exchange encompasses both the distribution component and the price mechanism involved in marketing. The other key parts of marketing, such as concern for the client and the development of value satisfaction, innovative selling, and integrated action for servicing the customer, get entirely eclipsed by the exchange concept of marketing.

2. The Production Concept

This concept claims that customers like such items with a cheap offer price and conveniently available products. Thus, this principle implies that great production efficiency and extensive distribution coverage would sell the product given to the market. Organizations voting for this notion are propelled by a passion to create all that they can. Naturally, people get focused on productivity and direct all their efforts toward that area of the business. They do accomplish efficiency in production. But their thinking is led by the idea that the dramatic decrease in unit costs emerging from the maximization of output would automatically bring them all the clients and all the revenues that they require.
But they do not obtain the greatest client patronage. Customers, after all, are motivated by a range of variables in their purchases. As a result, the production approach fails to function as a suitable marketing philosophy for the enterprise. The production idea is useful in circumstances where demand exceeds supply.

3. The Product Concept

This ideology says that clients value quality, performance, novel features, etc. The buyer will adore such things.
Therefore, organizations embracing this ideology think that by developing superior products and enhancing their quality over time, they will be able to attract customers. The product concept is slightly different from the manufacturing concept.
Whereas the production concept attempts to capture markets and profits through high volume of production and low unit costs, the product concept seeks to achieve the same outcome via product excellence, better products, new goods, and ideally designed and manufactured products. It also places emphasis on quality assurance. They devote substantial attention, time, and money to research and development and bring in a range of new items.
Organizations that adopt this idea concentrate on obtaining product excellence. They do not bother to study the market and the customer in depth. They get fully absorbed in the product and practically forget the consumer for whom it was truly produced. Furthermore, they fail to find out what the consumers genuinely need and what they would gladly accept. When Organizations fall in love with the product, this leads to marketing. Myopia because the focus is on the product rather than on the customer’s requirements.

Marketing Myopia
The phrase marketing Myopia is to be attributed to Prof. Theodore Levitt. It means a tinted or distorted perspective of marketing and a shortsightedness about business executives’ attention to production, product, or selling factors at the cost of the client and his true demands, which causes this myopia. It leads to faulty or inadequate knowledge of the market and, consequently, failure in the market arena.
Myopia even leads to a false or inadequate knowledge of the basic nature of the business in which a specific organization is engaged, which consequently impacts the future of the firm as well. Levitt highlighted further that while business maintains itself through changing times, there are some fundamental characteristics of each firm. And the underlying trait invariably relates to the core human need that the business aims to fulfill and satisfy through its goods. A savvy entrepreneur or marketing professional would understand this crucial truth and identify his firm in terms of this fundamental characteristic of the business rather than in terms of the items and services manufactured and promoted by him at a specific moment in time. For example, the Railways could identify their business as transportation; the moviemakers should define their business as entertainment; and beverage marketers should define their business as nourishment.

4. The Selling Concept

This ideology asserts that the buyer, if left alone, would not buy enough of the company’s items. The organization must therefore start a strong sales and advertising push. As more and more marketplaces became buyers markets and the entrepreneurial problem became one of overcoming the scarcity of customers rather than that of goods, the sales concept became the dominant principle guiding marketing. Most organizations implement this notion when they have overcapacity. This concept maintains that a corporation cannot expect its product to be picked up automatically by customers. The corporation has to proactively push its products. Aggressive advertising, high-power personal selling, big-scale sales promotion, substantial price reductions, powerful publicity, and public Relations are the techniques utilized by firms that rely on this approach. As a result, the public frequently equates marketing with aggressive selling and advertising.

But marketing focused on aggressive selling involves huge dangers. It presupposes that Customers who are enticed into buying a product will like it, and if they don’t, they won’t badmouth it or complain to consumer groups and will forget their disappointment and purchase it again. These assumptions have no basis. One study indicated that disgruntled customers may badmouth the product to 10 or more contacts, and bad word spreads fast.
The selling approach is implemented more aggressively with unsought goods that purchasers generally do not think about buying, such as insurance, encyclopedias, etc. These sectors have refined numerous sales strategies to locate prospects and hard-sell them on their products merits. It is also practiced in the non-profit arena by fund-raisers and political parties.

5. The Marketing Concept

The marketing philosophy believes that the key to accomplishing its organizational goals consists of the corporation being more effective than rivals in producing, delivering, and communicating customer value to its designated target markets. This notion was formed out of the realization that marketing starts with the determination of customer demands and concludes with the fulfillment of those wants. The concept places the consumer both at the beginning and at the conclusion. It states that any firm should be organized around the marketing function. Anticipating, inspiring, and satisfying the customer’s requirements. The customer has to be the center of the business universe, not the company, business cannot succeed by supplying products and services that are not properly designed to serve the needs of customers.

The marketing concept rests on four pillars. They are
a. Target market
b. Customer needs
c. Integrated marketing
d. Profitability.

6. The Societal Marketing Concept

This societal marketing concept holds that the organization’s task is to determine the needs, wants, and interests of target markets and deliver the desired satisfaction more effectively and efficiently than competitors. In a way that preserves or enhances the consumer’s and society’s well-being. The societal marketing notion relies on marketers to include social and ethical issues into their marketing activities. They must balance the often contradictory requirements of firm earnings, consumer demands, happiness, and public interest.

What is a marketing concept, the marketing idea is a core corporate philosophy that centers around putting the client at the center of all marketing efforts. It incorporates the notion of discovering and understanding client requirements and wants, and then offering higher value to meet those demands more effectively and efficiently than rivals.

The marketing concepts emphasize performing comprehensive market research, segmenting the target population, and adapting products or services to match unique client requests. It encourages a customer-centric strategy, creates long-term consumer connections, and builds brand loyalty. By concentrating on customer happiness and creating true value, organizations may build a sustainable competitive advantage and generate long-term success.

In the ever-evolving world of business and consumer behavior, the marketing notion remains a guiding principle for firms wanting to adapt and succeed. With technology, communication channels, and consumer tastes continually evolving, organizations that adopt the marketing idea are better positioned to stay relevant, anticipate client demands, and remain competitive in their particular industries.

Ultimately, the marketing concept underscores the necessity of understanding and addressing consumer wants as the foundation for driving corporate development, developing great brands, and attaining overall organizational objectives. Businesses that fully embrace this notion are more likely to develop deep connections with their consumers and generate a beneficial influence on their communities and the world at large.

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