Using Example To Analyse The Five Philosophies Of Marketing.

1865 words - 7 pages

1. IntroductionAs the development of economy, recently more and more people focus the importance of concept of Marketing because it has already improved the people's viewpoint which how to deal the business. However, one of the most persistent conceptual problems in marketing is its definition. In the light of Philip Kotler, marketing definition consist of social definition and managerial definition. (Kotler, 2000, p7-8). According to the British Chartered Institute of Marketing, Marketing is the management process responsible for identifying, anticipating and satisfying customers' requirements profitably. (Adcock, Halborg & Ross, 2001, p3). In addition, some others define marketing as all activities directed towards identifying and satisfying customer needs and wants through a process of exchange. (Assael, Reed & Patton, 1996, p4).Regardless of the several definitions of marketing, what philosophy should guide these marketing efforts? Generally, the five philosophies of production concept, product concept, selling concept, and societal marketing concepts should be paid more attention in marketing management process. In the following, the five concepts will be alternatively discussed with theories and practice.2. The brief meanings of marketing management philosophiesThe production concept is one of the oldest concepts in business. It holds that consumers will favor products that are available and highly affordable. Therefore, management should focus on improving production and distribution efficiency. (Armstrong & Kotler, 2003, p19). For example, Henry Ford's whole philosophy was to perfect the production of the Model T so that its cost could be reduced and more people could afford it.The product concept holds that consumers will favor products that offer the most quality, performance and innovative feature. Thus, an organization should devote energy to making continuous product improvements. (Kotler, Armstrong, Brown & Adam, 1998, p16). Nowadays, there are some oriental manufacturers adopt this concept.The selling concept holds that customers will not buy enough of the organization's products unless it undertakes a large-scale selling and promotion effort. (Kotler, Armstrong, Brown & Adam, 1998, p16). The concept is typically practiced with unsought goods such as encyclopedias or insurance.The marketing concept holds that the key to achieve its organizational goals consists of the company being more effective than competitors in creating, delivering, and communicating customer value to its chosen target markets. (Kotler, 2000, p19). Many successful and well-known companies have adopted the marketing concept. Disney, Marriott, and McDonald follow it faithfully.The societal marketing concept holds that the organization's task is to determine the needs, wants, and interests of target markets and to deliver the desired satisfactions more effectively and efficiently than competitors in a way that preserves or enhances the...

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