Marketing management & Philosophies

What is Marketing management. Discuss the various management

philosophies. Explain how the marketing and selling are contrasted and

briefly explain the societal marketing concept.

 

My Answer:

Marketing Management is a business discipline which is focused on the practical

application of marketing techniques and the management of a firm's marketing

resources and activities. Rapidly emerging forces of globalization have compelled

firms to market beyond the borders of their home country making International

marketing highly significant and an integral part of a firm's marketing strategy.

Marketing managers are often responsible for influencing the level, timing, and

composition of customer demand accepted definition of the term. In part, this is

because the role of a marketing manager can vary significantly based on a business'

size, corporate culture, and industry context. For example, in a large consumer

products company, the marketing manager may act as the overall general manager

of his or her assigned product. To create an effective, cost-efficient Marketing

management strategy, firms must possess a detailed, objective understanding of

their own business and the market in which they operate. In analyzing these issues,

the discipline of marketing management often overlaps with the related discipline

of strategic planning...

Various Management Philosophies

Production Concept: The production concept holds that customers will favor

products that are available and highly affordable and that management should

therefore focus on improving production and distribution efficiency.

 

Product Concept: The production concept holds that customers will favor

products that are available and highly affordable and that management should

therefore focus on improving production and distribution efficiency.

 

Selling Concept: Many organizations follow the selling concept. The selling

concept is the idea that consumers will not buy enough of the organization's

products unless the organization undertakes a large-scale selling and promotion

effort.

 

 

Marketing Concept: The marketing concept holds that achieving organizational

goals depends on determining the needs and wants of target markets and delivering

the desired satisfactions more effectively and efficiently than competitors do.

 

Societal Marketing Concept: The societal marketing concept holds that the

organization should determine the needs, wants, and interests of target markets. It

should then deliver the desired satisfactions more effectively and efficiently than

competitors in a way that maintains or improves the consumer's and the society's

well-being.

 

Contrast between Marketing Concent and Selling Concept

The Selling Concept and the Marketing Concept are two different concepts of

Marketing that related to the evolution of marketing in the world. The Selling

Concept holds that in order for the firm to be profitable, it must focus on sales of

the product regardless of the orientation of the product itself. This concept became

popular after World War 2. On the other hand, the Marketing Concept is one of the

recent concepts in marketing. It holds that a firm must identify the needs of the

consumer and then plan, price, promote and distribute its product according ton the

demands of the consumer.

 

Explains The Societal Marketing Concept 1) The societal marketing concept is

the newest of the marketing philosophies. 2) It questions whether the pure

marketing concept is adequate given the wide variety of societal problems and ills.

3) According to the societal marketing concept, the pure marketing concept

overlooks possible conflicts between short-run consumer wants and long-run

consumer welfare. 4) The societal concept calls upon marketers to balance three

considerations in setting their marketing policies: a) Company profits. b) Customer

wants. c) Society's interests.

 HAPPY LEARNING-TASLEEM