By seema 
The idea of marketing revolves around an organization’s strategy to increase profits by increasing sales, satisfying customer demands and outperforming rivals. The aim is to create a scenario that is beneficial to both the client and the business.
These concepts in marketing have their roots in Adam Smith’s book The Wealth of Nations, and have since evolved. Here are six of the most important marketing concepts:
Table of Contents
Production Concept
The concept of production originates from the notion that consumers will prefer cheap and readily available goods. This is in line to Says Law, which suggests that “supply creates its own demand.” Businesses that adhere to this idea tend to increase production in order to create efficiency, decreasing production costs, and delivering cheap products. But, this approach could be a waste of time and not always be in line with consumer preference.
Product Concept
The concept behind the product operates on the assumption that consumers place importance on quality over cost and availability when making purchases. Companies that follow this model put a lot of effort into developing quality products, which often come with a higher price. While this is a good approach for people who are concerned about quality, it might not take into account other factors that influence the purchase decision, such as pricing and availability.
Selling Concept
The concept of selling is centered around the immediate sale of the product regardless of the product’s quality or the requirements of customers. The main goal is on making money, but often without establishing long-term relationships with customers. Businesses who follow this model could resort to deceitful strategies to increase sales. This strategy may not be long-lasting and may result in marketing obfuscation.
Marketing Concept
The concept of marketing acknowledges that to succeed within the new century companies need to develop products that satisfy customer demands. It is based on the assumption that customers purchase products that satisfy their requirements superior to competitors’ offerings. Businesses that embrace the concept of marketing undertake research to better understand their customers’ wants and needs, and then develop products that surpass the competition. Establishing relationships with customers and creating long-term profits are important objectives. However, this does not apply to everyone and relies on the market’s dynamics.
Societal Marketing Concept
Extending the marketing concept Social marketing highlights the role of a company in promoting well-being for society. It’s about satisfying the demands of customers and weighing the environmental impact of conserving natural resources and supporting social issues like poverty alleviation and education. Numerous major companies incorporate corporate social responsibility as a part of their marketing efforts as a part of this notion.
Holistic Marketing Concept
The holistic concept of marketing is a new concept which sees the business as a whole with interconnected components. It assigns a shared goal to each individual and activity involved in the company. As the different components within the human body cooperate to function optimally This concept helps all aspects of a company to work towards a common goal. A holistic approach will help you achieve the highest outcomes by understanding the interdependencies within the company.