{"id":20,"date":"2018-10-26T06:31:44","date_gmt":"2018-10-26T06:31:44","guid":{"rendered":"http:\/\/mgmtp14.epgpbooks.inflibnet.ac.in\/?post_type=chapter&#038;p=20"},"modified":"2022-01-07T05:29:49","modified_gmt":"2022-01-07T05:29:49","slug":"marketing-concepts-and-its-evolution","status":"publish","type":"chapter","link":"https:\/\/ebooks.inflibnet.ac.in\/mgmtp14\/chapter\/marketing-concepts-and-its-evolution\/","title":{"rendered":"Marketing Concepts and its Evolution"},"content":{"raw":"<div>\r\n\r\n\u00a0 \u00a0 1.\u00a0<strong>Learning outcomes<\/strong>:\r\n\r\n&nbsp;\r\n\r\nAfter completing this module, the students will be able to:\r\n<ul>\r\n \t<li>Understand the meaning of marketing.<\/li>\r\n \t<li>Understand the evolution of marketing.<\/li>\r\n \t<li>Understand the development of marketing concept.<\/li>\r\n \t<li>Understand the new concepts of marketing.<\/li>\r\n<\/ul>\r\n<strong>\u00a0 \u00a0 2.\u00a0<\/strong><strong>Introduction:<\/strong>\r\n\r\n&nbsp;\r\n<p style=\"text-align: justify;\"><span style=\"text-align: initial; font-size: 1em;\">The marketing concept <\/span>come<span style=\"text-align: initial; font-size: 1em;\"> out in the mid- 1950s and challenged the proceeding concepts. For understanding the meaning of marketing, firstly understand the meaning of <\/span>market .The<span style=\"text-align: initial; font-size: 1em;\"> word Market is derived from the Latin word MARCATUS which means merchandise or trade or a place where business is conducted. Marketing is not only a place of exchange but an arrangement that provides an opportunity <\/span>of<span style=\"text-align: initial; font-size: 1em;\"> exchanging goods and services for money.<\/span><\/p>\r\n&nbsp;\r\n<p style=\"text-align: justify;\"><strong style=\"text-align: initial; font-size: 1em;\">Peter Drucker<\/strong><span style=\"text-align: initial; font-size: 1em;\">, a leading management theorist, puts it this way \u2013<\/span><\/p>\r\n<p style=\"text-align: justify;\"><span style=\"text-align: initial; font-size: 1em;\">\u201cThere will always one can assume, be <\/span>need<span style=\"text-align: initial; font-size: 1em;\"> for some selling. But the aim of marketing is to make selling super fulvous. The aim of marketing is to know and understand the customer so well that the product or services fits him and sells it. Ideally, marketing should result in a customer who is ready to buy. All that should be needed then is to make the product or services available.\u201d<\/span><\/p>\r\n&nbsp;\r\n<p style=\"text-align: justify;\"><span style=\"text-align: initial; font-size: 1em;\">Marketing is a broader concept which includes all human activities in relation to the <\/span>market .<span style=\"text-align: initial; font-size: 1em;\">it includes product planning and development, buying and assembling, pricing distribution and selling, branding and packaging, standardization and <\/span>grading ,<span style=\"text-align: initial; font-size: 1em;\"> transportation and warehousing, promotion and advertising, financing, risk bearing, analysis of <\/span>market<span style=\"text-align: initial; font-size: 1em;\"> in terms of its present and potential customers.<\/span><\/p>\r\n&nbsp;\r\n<p style=\"text-align: justify;\"><strong style=\"text-align: initial; font-size: 1em;\">3. Origin and Meaning of Marketing :<\/strong><\/p>\r\n&nbsp;\r\n<p style=\"text-align: justify;\"><span style=\"text-align: initial; font-size: 1em;\">In <\/span>mid 1950s<span style=\"text-align: initial; font-size: 1em;\"> most firms were production oriented i.e. the manufacture emphasized only on production of quality products and then looked for people to purchase them. With the passage of time and technological advancement, the focus shifted to an effective sales force to find that customers for their <\/span>increasing<span style=\"text-align: initial; font-size: 1em;\"> output. After <\/span>1950s<span style=\"text-align: initial; font-size: 1em;\"> the marketing shifted to impressive concern that the manufacturer first looks into consideration the customers <\/span>wants<span style=\"text-align: initial; font-size: 1em;\"> and then manufactured their goods according to their interest. <\/span><\/p>\r\n&nbsp;\r\n<p style=\"text-align: justify;\"><span style=\"text-align: initial; font-size: 1em;\">The <\/span><strong style=\"text-align: initial; font-size: 1em;\">American Marketing Association<\/strong><span style=\"text-align: initial; font-size: 1em;\"> defines<\/span><\/p>\r\n<p style=\"text-align: justify;\"><span style=\"text-align: initial; font-size: 1em;\">\u201cMarketing as the process of planning and executing the conception, pricing, promotion and distribution of ideas, goods <\/span>and<span style=\"text-align: initial; font-size: 1em;\"> services to create exchanges that satisfy individual and organizational objectives.\u201d<\/span><\/p>\r\n&nbsp;\r\n<p style=\"text-align: justify;\"><span style=\"text-align: initial; font-size: 1em;\">Marketing is a broader and comprehensive term and it includes <\/span>set<span style=\"text-align: initial; font-size: 1em;\"> of activities and important resources necessary to direct and facilitate the flow of goods and services from the producer to the consumer. Marketing also availing the right goods and services to the right people, at the right place and at the right time.<\/span><\/p>\r\n&nbsp;\r\n<p style=\"text-align: justify;\"><strong style=\"text-align: initial; font-size: 1em;\">4. Core Concept of Marketing:<\/strong><\/p>\r\n&nbsp;\r\n<p style=\"text-align: justify;\"><span style=\"text-align: initial; font-size: 1em;\">Philip Kotler explained the core concept of marketing in his book \u2013 \u201cMarketing Management\u201d\u00a0<\/span><span style=\"text-align: initial; font-size: 1em;\">as,<\/span><\/p>\r\n\r\n<\/div>\r\n<div>\r\n\r\n<img class=\"aligncenter wp-image-24 size-full\" src=\"http:\/\/mgmtp14.epgpbooks.inflibnet.ac.in\/wp-content\/uploads\/sites\/80\/2018\/10\/Untitled.png\" alt=\"\" width=\"953\" height=\"136\" \/>\r\n\r\n&nbsp;\r\n\r\n<strong>Core Concept of Marketing<\/strong>\r\n\r\n&nbsp;\r\n<p style=\"text-align: justify;\">According to him, every human being has endless needs and demands . There are many products which can satisfy human wants and demands. These wants and demands can be fulfilled by exchange of goods and services . Marketers try to increase demand by making products more attractive , affordable and easily available .Market is a place where goods and services exchanged. Marketing means all those activities that take place in relation to market. Hence , the marketing is a social process by which individual and groups obtain what they need and want through exchanging products and values with others.<\/p>\r\n&nbsp;\r\n\r\n5.\u00a0<strong>Definitions of Marketing :<\/strong>\r\n\r\n&nbsp;\r\n\r\nTo understand the concept of marketing different authors define marketing in their own way. Some definitions of Marketing are as follows:\r\n\r\n&nbsp;\r\n<p style=\"text-align: justify;\"><strong>5.1 <\/strong>According to Pyle,(Principles of Marketing) \u2013 \u201c Marketing comprises both buying and selling activities.\u201d<\/p>\r\n<p style=\"text-align: justify;\"><strong>5.2 <\/strong>According to Tousley ,Clark and Clark ( Principles of Marketing ) \u2013 \u201cMarketing consists of those efforts which affect transfers in the ownership of goods and services and which provide for their physical distribution.\u201d<\/p>\r\n<p style=\"text-align: justify;\"><strong>5.3 <\/strong>According to Paul Mazur \u2013 \u201c Marketing is the delivery of standard of living.\u201d<\/p>\r\n<p style=\"text-align: justify;\"><strong>5.4 <\/strong>According to William J. Stanton \u2013 \u201c Marketing is a total system of interacting business activities designed to plan, price, promote and distribute want satisfying products and services to present and potential customers.\u201d<\/p>\r\n<p style=\"text-align: justify;\"><strong>5.5 <\/strong>According to H.L. Hansen (Marketing )- \u201cMarketing is the process of discovering and translating consumer needs and wants into product and service specifications, creating demand for these products and services and then in turn expanding the demand.\u201d<\/p>\r\n&nbsp;\r\n\r\n<strong>6 Marketing Concepts :<\/strong>\r\n\r\n&nbsp;\r\n<p style=\"text-align: justify;\"><span style=\"text-align: initial; font-size: 1em;\">To understand the meaning of modern <\/span>marketing ,<span style=\"text-align: initial; font-size: 1em;\"> one should be clear the meaning of marketing concepts. Marketing concepts <\/span>has<span style=\"text-align: initial; font-size: 1em;\"> two words: Marketing and Concepts. A concept is a philosophy, an attitude <\/span>and<span style=\"text-align: initial; font-size: 1em;\"> course of thinking. <\/span>Marketing<span style=\"text-align: initial; font-size: 1em;\"> concept is the philosophy that guides the activities of marketing.<\/span><\/p>\r\n&nbsp;\r\n<p style=\"text-align: justify;\"><strong style=\"text-align: initial; font-size: 1em;\">6.1<\/strong><span style=\"text-align: initial; font-size: 1em;\">\u00a0<\/span><strong style=\"text-align: initial; font-size: 1em;\">Definitions of Marketing Concept :<\/strong><\/p>\r\n&nbsp;\r\n<p style=\"text-align: justify;\"><span style=\"text-align: initial; font-size: 1em;\">i) According to Philip Kotler in his book,\u201d Marketing management \u201cstates <\/span>that ,\u201d<span style=\"text-align: initial; font-size: 1em;\">Marketing concept is customer oriented backed by integrated marketing aimed at generating customer satisfaction as the key to satisfying organizational goals.\u201d<\/span><\/p>\r\n<p style=\"text-align: justify;\"><span style=\"text-align: initial; font-size: 1em;\">ii) According to Arthur P. Felton, \u201c Marketing concepts is a corporate state of mind that insists on the integration and coordination of all marketing functions, which in turn are welded with all the other corporate functions, for the basic objective of producing maximum <\/span>long range<span style=\"text-align: initial; font-size: 1em;\"> corporate profits.\u201d<\/span><\/p>\r\n&nbsp;\r\n<p style=\"text-align: justify;\"><strong style=\"text-align: initial; font-size: 1em;\">7. Development of Marketing Concept :<\/strong><\/p>\r\n&nbsp;\r\n<p style=\"text-align: justify;\"><span style=\"text-align: initial; font-size: 1em;\">The history of <\/span>development<span style=\"text-align: initial; font-size: 1em;\"> of marketing concept is divided into four stages:<\/span><\/p>\r\n\r\n<\/div>\r\n<div>\r\n\r\n<img class=\"alignnone wp-image-26 size-full\" src=\"http:\/\/mgmtp14.epgpbooks.inflibnet.ac.in\/wp-content\/uploads\/sites\/80\/2018\/10\/Untitled-1.png\" alt=\"\" width=\"966\" height=\"355\" \/>\r\n\r\n<strong>7.1<\/strong>\u00a0\u00a0\u00a0 <strong>1<\/strong><strong>st<\/strong><strong> Stage : Production \u2013 oriented Philosophy (1900 to 1930 )<\/strong>\r\n\r\n&nbsp;\r\n<p style=\"text-align: justify;\">Till 1930\u201fs , USA was facing shortage of production and at that time the general philosophy of business was ,\u201d <em>produce as much<\/em> <em>as u can , because there is a limitless market \u201c.<\/em> In this stage the main focus on increasing the production not the selling. Producers were busy to find\u00a0<span style=\"text-align: initial; font-size: 1em;\">and implement the ways and means which increases production. That\u201fs why this stage is called as production \u2013 oriented stage. The assumptions of this philosophy are :<\/span><\/p>\r\n\r\n<ul>\r\n \t<li style=\"text-align: justify;\"><span style=\"text-align: initial; font-size: 1em;\">Anything that can be produced can be sold.<\/span><\/li>\r\n \t<li style=\"text-align: justify;\">To keep the cost of production is low<\/li>\r\n \t<li style=\"text-align: justify;\">Produce only certain basic products.<\/li>\r\n<\/ul>\r\n<\/div>\r\n<div>\r\n\r\n<strong>\u00a0 \u00a0 7.2 2<\/strong><strong>nd<\/strong><strong> Stage : Sales \u2013 Oriented Philosophy ( 1930 to 1950 )<\/strong>\r\n\r\n&nbsp;\r\n<p style=\"text-align: justify;\">This stage lies between the periods from Great Depression to the end of World War II. During this stage the main problem was not production, but how to sell it. In this stage the focus of businessmen was shifted towards sales and this stage is called as sales \u2013 oriented stage. The main assumptions of this philosophy are:<\/p>\r\n\r\n<ul>\r\n \t<li>Production of good quality product<\/li>\r\n \t<li>Finding new buyers of the product<\/li>\r\n \t<li>Convince the buyers through good selling tactics.<\/li>\r\n<\/ul>\r\n<strong>\u00a0 \u00a0 7.3 3<\/strong><strong>rd<\/strong><strong> Stage : Customer \u2013 Oriented Philosophy ( 1950 to 1990)<\/strong>\r\n\r\n&nbsp;\r\n<p style=\"text-align: justify;\">In this stage the needs of the consumer determined and then integrated efforts were taken to produce the goods that satisfied these needs and wants. The main assumptions of the philosophy are :<\/p>\r\n\r\n<ul>\r\n \t<li>Only desired products by consumer should be produced,<\/li>\r\n \t<li>Consumer is treated as<span style=\"text-align: initial; font-size: 1em;\"> a king of the market,<\/span><\/li>\r\n \t<li>To integrate all activities to satisfy consumer wants.<\/li>\r\n \t<li>Focus on long range<span style=\"text-align: initial; font-size: 1em;\"> profits rather than \u201equick sales\u201f.<\/span><\/li>\r\n<\/ul>\r\n<strong>\u00a0 \u00a0 7.4\u00a0 4<\/strong><strong>th<\/strong><strong> Stage : Social \u2013 Oriented Philosophy (1990 to update )<\/strong>\r\n\r\n&nbsp;\r\n<p style=\"text-align: justify;\">In this stage focus not only consumer satisfaction but also for consumer welfare or social welfare. The assumptions of social orientation philosophy are :<\/p>\r\n\r\n<ul>\r\n \t<li>Only those products produced which are desired by the consumers,<\/li>\r\n \t<li>The purpose of the firm is long term<span style=\"text-align: initial; font-size: 1em;\"> profit objective rather than quick sales,<\/span><\/li>\r\n \t<li>The firm should discharge its social responsibilities .<\/li>\r\n<\/ul>\r\n<\/div>\r\n<strong style=\"text-align: initial; font-size: 1em;\">\u00a0 \u00a0 8. Different Concepts of Marketing :<\/strong>\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-align: initial; font-size: 1em;\">Marketing has been defined by different people in different ways. Some important concepts are as follows:<\/span>\r\n\r\n&nbsp;\r\n\r\n<strong style=\"text-align: initial; font-size: 1em;\">8.1 Production Concept :<\/strong>\r\n\r\n&nbsp;\r\n<p style=\"text-align: justify;\"><span style=\"text-align: initial; font-size: 1em;\">This is one of the oldest <\/span>concept<span style=\"text-align: initial; font-size: 1em;\"> of Marketing. According to that concept, producer\u00a0<\/span><span style=\"text-align: initial; font-size: 1em;\">believed that if the product is good and reasonably priced, it will be most popular if no special marketing efforts are made. In other words, customer <\/span>prefer<span style=\"text-align: initial; font-size: 1em;\"> those products which are low priced and easily available.<\/span><\/p>\r\n&nbsp;\r\n<p style=\"text-align: justify;\"><span style=\"text-align: initial; font-size: 1em;\">According to <\/span><strong style=\"text-align: initial; font-size: 1em;\">Philip Kotler ,<\/strong><span style=\"text-align: initial; font-size: 1em;\"> \u201c the production concept <\/span>hold<span style=\"text-align: initial; font-size: 1em;\"> that consumer will <\/span>favour<span style=\"text-align: initial; font-size: 1em;\">\u00a0those products that are widely available and low in cost management in production oriented organization concentrate on achieving high production efficiency and Distribution coverage.\u201d<\/span><\/p>\r\n&nbsp;\r\n<p style=\"text-align: justify;\"><span style=\"text-align: initial; font-size: 1em;\">This concept is very useful in <\/span>Banks ,<span style=\"text-align: initial; font-size: 1em;\"> General Hospitals and Industries which producing convenience products.<\/span><\/p>\r\n&nbsp;\r\n<p style=\"text-align: justify;\"><strong style=\"text-align: initial; font-size: 1em;\">8.2 Product Concept :<\/strong><\/p>\r\n&nbsp;\r\n<p style=\"text-align: justify;\"><span style=\"text-align: initial; font-size: 1em;\">According to this <\/span>concept,<span style=\"text-align: initial; font-size: 1em;\"> producer believed that by making superior products and improving their <\/span>quality,<span style=\"text-align: initial; font-size: 1em;\"> they will attract more customer. Superior products <\/span>are always prefer<span style=\"text-align: initial; font-size: 1em;\"> by the customer.<\/span><\/p>\r\n&nbsp;\r\n<p style=\"text-align: justify;\"><span style=\"text-align: initial; font-size: 1em;\">According to <\/span><strong style=\"text-align: initial; font-size: 1em;\">Philip kotler<\/strong>,<span style=\"text-align: initial; font-size: 1em;\">\u00a0\u201c The product concept holds that consumer will <\/span>favour<span style=\"text-align: initial; font-size: 1em;\"> those products that offer the most quality performance and <\/span>features.<span style=\"text-align: initial; font-size: 1em;\"> Management in these <\/span>product oriented<span style=\"text-align: initial; font-size: 1em;\"> organizations <\/span>focus<span style=\"text-align: initial; font-size: 1em;\"> their energy on manufacturing good quality products and improving them over time.<\/span><\/p>\r\n&nbsp;\r\n<p style=\"text-align: justify;\"><span style=\"text-align: initial; font-size: 1em;\">This concept is useful for specialized nursing homes, bakeries and Industries which are producing electronic products.<\/span><\/p>\r\n&nbsp;\r\n<p style=\"text-align: justify;\"><strong style=\"text-align: initial; font-size: 1em;\">8.3 Selling Concept:<\/strong><\/p>\r\n&nbsp;\r\n<p style=\"text-align: justify;\"><span style=\"text-align: initial; font-size: 1em;\">According to that concept, the customer will not normally purchase the product unless they are convinced through proper <\/span>advertising,<span style=\"text-align: initial; font-size: 1em;\"> sales promotion and salesmanship efforts. It shows that even the best products cannot have assured sales without the help of sales promotion. So, a marketing concept points out that goods are not bought but they sold with the help of salesmanship efforts, aggressive advertising <\/span>and<span style=\"text-align: initial; font-size: 1em;\"> intensive sales <\/span>promotion.<span style=\"text-align: initial; font-size: 1em;\"> This concept <\/span>change<span style=\"text-align: initial; font-size: 1em;\"> the attitude of marketers as sales \u2013 oriented. Some important aspects of selling are:<\/span><\/p>\r\n\r\n<ul>\r\n \t<li style=\"text-align: justify;\"><span style=\"text-align: initial; font-size: 1em;\">It provides a human touch to business transactions.<\/span><\/li>\r\n \t<li style=\"text-align: justify;\">It enhances the customer\u201fs confidence in the seller.<\/li>\r\n \t<li style=\"text-align: justify;\">It provides prospective customers of the product.<\/li>\r\n<\/ul>\r\n<div>\r\n\r\n\u00a0 \u00a0 This concept is practiced in the NGO\u201fs, college admissions, offices and political parties.\r\n\r\n&nbsp;\r\n\r\n<strong>8.4 Marketing Concept :<\/strong>\r\n\r\n&nbsp;\r\n<p style=\"text-align: justify;\">This concepts focus on the determination of the requirements of potential customers and supplying product to satisfy their requirements. This concept highlights that the primary task of every business enterprise is to study the needs, desires and values of potential customers. The market concept focus on the four points :<\/p>\r\n\r\n<ul>\r\n \t<li>Target market<\/li>\r\n \t<li>Customer Needs<\/li>\r\n \t<li>Integrated Marketing<\/li>\r\n \t<li>Profit through Customer Satisfaction.<\/li>\r\n<\/ul>\r\n<strong>\u00a0 \u00a08.5 Distribution of goods and services concept :<\/strong>\r\n\r\n&nbsp;\r\n<p style=\"text-align: justify;\">This is the traditional concept of marketing. According to this concept, marketing starts when the production process is completed and ends when goods are sold. It has no concern with the pre- production activities and after sales activities. Under this concept the firms are more concerned with maximizing their profits by maximizing their sales.<\/p>\r\n&nbsp;\r\n<p style=\"text-align: justify;\">According to <strong>American Marketing Association<\/strong>, \u201cMarketing is the performance of business activities that directs the flow of goods and services from producer to consumer or user.\u201d<\/p>\r\n&nbsp;\r\n<p style=\"text-align: justify;\"><strong style=\"text-align: initial; font-size: 1em;\">8.6 Creation of Utility concept :<\/strong><\/p>\r\n&nbsp;\r\n<p style=\"text-align: justify;\"><span style=\"text-align: initial; font-size: 1em;\">According to this <\/span>concept<span style=\"text-align: initial; font-size: 1em;\"> marketing is the creation of different types of utilities in goods and make them valuable.<\/span><\/p>\r\n&nbsp;\r\n<p style=\"text-align: justify;\"><span style=\"text-align: initial; font-size: 1em;\">According to <\/span><strong style=\"text-align: initial; font-size: 1em;\">Richard Buskirk,<\/strong><span style=\"text-align: initial; font-size: 1em;\"> \u201c Marketing is an integrated system of action that creates value in goods through the creation of <\/span>form,<span style=\"text-align: initial; font-size: 1em;\"> place, time and ownership utility.\u201d It means there are four types of utilities: Form Utility, Time utility, Place Utility, Possession Utility.<\/span><\/p>\r\n&nbsp;\r\n<p style=\"text-align: justify;\"><strong style=\"text-align: initial; font-size: 1em;\">For Example:<\/strong><\/p>\r\n\r\n<ul>\r\n \t<li style=\"text-align: justify;\"><span style=\"text-align: initial; font-size: 1em;\">Product Planning and development create form utility.<\/span><\/li>\r\n \t<li style=\"text-align: justify;\">Transportation and distribution channels create place<span style=\"text-align: initial; font-size: 1em;\">.<\/span><\/li>\r\n \t<li style=\"text-align: justify;\">Storage and warehousing create time utility.<\/li>\r\n \t<li style=\"text-align: justify;\">Salesmanship and Advertising create possession utility.<\/li>\r\n<\/ul>\r\n<\/div>\r\n<div>\r\n\r\n<strong>\u00a0 \u00a0 8.7 Societal Marketing Concept :<\/strong>\r\n\r\n&nbsp;\r\n<p style=\"text-align: justify;\">This is the new and broader concept of marketing. This concept focuses that the organization should first determine the needs, wants and interests of the target markets. It emphasized on producing goods and services which are beneficial for the society.<\/p>\r\n&nbsp;\r\n<p style=\"text-align: justify;\">According to <strong>Philip Kotler,<\/strong> \u201c Societal marketing concept is customer- orientated concept backed by integrated marketing aimed at generating customer satisfaction and long-run customer welfare as the key to attaining long \u2013 run profitable volume.\u201d<\/p>\r\n&nbsp;\r\n\r\nThis concept is based on the following assumptions:\r\n<ul>\r\n \t<li>The organization shall offer long \u2013 run consumers and public welfare,<\/li>\r\n \t<li>The mission of an organization is to create satisfied customers,<\/li>\r\n \t<li style=\"text-align: justify;\">The organization will offer only those products to the customers which are beneficial both to the consumers and the society<span style=\"text-align: initial; font-size: 1em;\">.<\/span><\/li>\r\n<\/ul>\r\n<strong>\u00a0 \u00a0 8.8 Delivery of Standard of living Concept :<\/strong>\r\n\r\n&nbsp;\r\n<p style=\"text-align: justify;\">According to this concept, marketing includes all those activities which create and provide a better standard of living to the society. Consumers are motivated to\u00a0<span style=\"text-align: initial; font-size: 1em;\">purchase new products that are easily available in the market. This concept is a customer-oriented concept and is more close to the modern concept of marketing.<\/span><\/p>\r\n&nbsp;\r\n<p style=\"text-align: justify;\"><span style=\"text-align: initial; font-size: 1em;\">Acc .to <\/span><strong style=\"text-align: initial; font-size: 1em;\">Paul Mazur<\/strong><span style=\"text-align: initial; font-size: 1em;\">, \u201cMarketing is the creation and delivery of standard of living to the society.\u201d<\/span><\/p>\r\n&nbsp;\r\n<p style=\"text-align: justify;\"><span style=\"text-align: initial; font-size: 1em;\">Acc. to <\/span><strong style=\"text-align: initial; font-size: 1em;\">Prof. Malcolm McNair<\/strong><span style=\"text-align: initial; font-size: 1em;\">, \u201cMarketing is the creation and delivery of standard of living to the society.\u201d<\/span><\/p>\r\n&nbsp;\r\n<p style=\"text-align: justify;\"><strong style=\"text-align: initial; font-size: 1em;\">9.<\/strong><span style=\"text-align: initial; font-size: 1em;\">\u00a0<\/span><strong style=\"text-align: initial; font-size: 1em;\">Difference between Traditional and Modern Concepts of Marketing:<\/strong><\/p>\r\n\r\n<\/div>\r\n<div>\r\n\r\n<img class=\"wp-image-27 size-full aligncenter\" src=\"http:\/\/mgmtp14.epgpbooks.inflibnet.ac.in\/wp-content\/uploads\/sites\/80\/2018\/10\/Untitled-2.png\" alt=\"\" width=\"535\" height=\"546\" \/>\r\n\r\n&nbsp;\r\n\r\n<strong style=\"text-align: initial; font-size: 1em;\">10.\u00a0<\/strong><strong style=\"text-align: initial; font-size: 1em;\">Some New Concepts of Marketing :<\/strong>\r\n\r\n&nbsp;\r\n\r\n<strong style=\"text-align: initial; font-size: 1em;\">10.1 Relationship concept :<\/strong>\r\n<p style=\"text-align: justify;\"><span style=\"text-align: initial; font-size: 1em;\">Acc to Philip Kotler- \u201cRelationship marketing is the process of building <\/span>long\u2013term<span style=\"text-align: initial; font-size: 1em;\">, trusting, WIN-WIN relationship with customers, distributors, dealers <\/span>and<span style=\"text-align: initial; font-size: 1em;\"> suppliers. Relationship marketing promises and delivers high quality, efficient services and fair prices to the other party <\/span>overtime<span style=\"text-align: initial; font-size: 1em;\">. It is accomplished by strengthening the economic, technical and social ties between members of the two organizations or between the markets and the individual customer.\u201d<\/span><\/p>\r\n&nbsp;\r\n<p style=\"text-align: justify;\"><strong style=\"text-align: initial; font-size: 1em;\">10.2 Mass Marketing Concept :<\/strong><\/p>\r\n<p style=\"text-align: justify;\"><span style=\"text-align: initial; font-size: 1em;\">Mass Marketing means to sell the <\/span>mass produced<span style=\"text-align: initial; font-size: 1em;\"> goods. This concept <\/span>focus<span style=\"text-align: initial; font-size: 1em;\"> on <\/span>sale<span style=\"text-align: initial; font-size: 1em;\"> of mass production by using tools of mass marketing i.e. mass <\/span>advertising,<span style=\"text-align: initial; font-size: 1em;\"> mass <\/span>promotion,<span style=\"text-align: initial; font-size: 1em;\"> mass distribution to <\/span>large<span style=\"text-align: initial; font-size: 1em;\"> group of customers.<\/span><\/p>\r\n&nbsp;\r\n<p style=\"text-align: justify;\"><strong style=\"text-align: initial; font-size: 1em;\">10.3 Niche Marketing Concept :<\/strong><\/p>\r\n<p style=\"text-align: justify;\"><span style=\"text-align: initial; font-size: 1em;\">Niche Marketing is a concept where marketer plays a role of <\/span>specialist<span style=\"text-align: initial; font-size: 1em;\"> in particular segments. For <\/span>example:<span style=\"text-align: initial; font-size: 1em;\"> Quality Specialist for manage low or high quality of the products, Service Specialist for providing best services which are not provided by other <\/span>firms,<span style=\"text-align: initial; font-size: 1em;\"> Product line Specialist for availing only one product line or product.<\/span><\/p>\r\n&nbsp;\r\n<p style=\"text-align: justify;\"><strong style=\"text-align: initial; font-size: 1em;\">10.4 Strategic Marketing Concept :<\/strong><\/p>\r\n<p style=\"text-align: justify;\"><span style=\"text-align: initial; font-size: 1em;\">Strategic marketing is a <\/span>decision-making<span style=\"text-align: initial; font-size: 1em;\"> process which includes the analysis of internal potential and external environments of a firm in order to efficiently use the various marketing resources to achieve organizational objectives.<\/span><\/p>\r\n&nbsp;\r\n<p style=\"text-align: justify;\"><strong style=\"text-align: initial; font-size: 1em;\">10.5 Stimulation Marketing Concept :<\/strong><\/p>\r\n<p style=\"text-align: justify;\"><span style=\"text-align: initial; font-size: 1em;\">In this <\/span>concept<span style=\"text-align: initial; font-size: 1em;\"> a proper stimulation is provided to customers for buying the product. There is no demand in this situation and people are not interested <\/span>to purchasing<span style=\"text-align: initial; font-size: 1em;\"> the products, so to create demand stimulation is provided.<\/span><\/p>\r\n&nbsp;\r\n<p style=\"text-align: justify;\"><strong style=\"text-align: initial; font-size: 1em;\">10.6 Synchromarketing Concept <\/strong><span style=\"text-align: initial; font-size: 1em;\">:<\/span><\/p>\r\n<p style=\"text-align: justify;\"><span style=\"text-align: initial; font-size: 1em;\">In this <\/span>concept<span style=\"text-align: initial; font-size: 1em;\"> there is a state of irregular demand or we can say that demand is more than supply. In other seasons, whatever is supplied goes to waste for want of <\/span>demand.<\/p>\r\n&nbsp;\r\n<p style=\"text-align: justify;\"><strong style=\"text-align: initial; font-size: 1em;\">10.7<\/strong><strong style=\"text-align: initial; font-size: 1em;\">Demarketing Concept :<\/strong><\/p>\r\n<p style=\"text-align: justify;\"><span style=\"text-align: initial; font-size: 1em;\">Under this <\/span>concept<span style=\"text-align: initial; font-size: 1em;\"> the demand for a product exceeds the supply and this is also known as overfull demand. the term overfull demand is defined as a situation in which demand exceeds the level at which the marketer feels able or motivated to supply it.<\/span><\/p>\r\n&nbsp;\r\n<p style=\"text-align: justify;\"><strong style=\"text-align: initial; font-size: 1em;\">10.8<\/strong><strong style=\"text-align: initial; font-size: 1em;\">Remarketing :<\/strong><\/p>\r\n<p style=\"text-align: justify;\"><span style=\"text-align: initial; font-size: 1em;\">Remarketing is associated with the term \u201c faltering demand <\/span>\u201c ,<span style=\"text-align: initial; font-size: 1em;\"> which is invariably for all kinds of <\/span>products, services, places,<span style=\"text-align: initial; font-size: 1em;\"> organization etc. In this state, there is a decline in demand for the products is possible, if no preventive action is taken to enhance the target market.<\/span><\/p>\r\n&nbsp;\r\n<p style=\"text-align: justify;\"><strong style=\"text-align: initial; font-size: 1em;\">10.9 Database Marketing Concept :<\/strong><\/p>\r\n<p style=\"text-align: justify;\"><span style=\"text-align: initial; font-size: 1em;\">Database Marketing is a process of collecting and using data on our customers and markets helps us to acquire a better understanding of the market so that we can utilize sales and marketing techniques in a more precise and <\/span>cost effective<span style=\"text-align: initial; font-size: 1em;\"> way.<\/span><\/p>\r\n&nbsp;\r\n<p style=\"text-align: justify;\"><strong style=\"text-align: initial; font-size: 1em;\">10.10 Network Marketing :<\/strong><\/p>\r\n<p style=\"text-align: justify;\"><span style=\"text-align: initial; font-size: 1em;\">Network means a strong interdependence between the firms controlling different activities, i.e. firms are components of a value <\/span>chain .<span style=\"text-align: initial; font-size: 1em;\"> So that is why the success of the value chain is not only dependent on its performance but is closely related to the interactions between all the firms making that chain. According to <\/span><strong style=\"text-align: initial; font-size: 1em;\">Kotler<\/strong><span style=\"text-align: initial; font-size: 1em;\"> ( 1991)- \u201c Marketing started out as an analysis of how commodities are produced and distributed through an economic system. Subsequently, we became interested in distribution channels themselves and the functions marketers perform. What I think we are witnessing today is a movement away from a focus on exchange in the narrow sense of transaction towards a focus on building <\/span>value- laden<span style=\"text-align: initial; font-size: 1em;\"> relationships and marketing networks \u2026..\u201d<\/span><\/p>\r\n&nbsp;\r\n<p style=\"text-align: justify;\"><strong style=\"text-align: initial; font-size: 1em;\">11.\u00a0<\/strong><strong style=\"text-align: initial; font-size: 1em;\">Summary :<\/strong><\/p>\r\n&nbsp;\r\n<p style=\"text-align: justify;\"><span style=\"text-align: initial; font-size: 1em;\">Marketing concepts emerged in <\/span>mid 1950s<span style=\"text-align: initial; font-size: 1em;\"> and challenged the proceeding concepts. Marketing as the process of planning and executing the conception, pricing, promotion <\/span>and<span style=\"text-align: initial; font-size: 1em;\"> distribution of ideas, goods and services to create exchanges that satisfy individual and organizational objectives. The core concepts of Marketing start from <\/span>needs,<span style=\"text-align: initial; font-size: 1em;\"> wants and demands and ends with market and marketers. Marketing concepts <\/span>tells<span style=\"text-align: initial; font-size: 1em;\"> us about the\u00a0<\/span><span style=\"text-align: initial; font-size: 1em;\">philosophy that guides the activities of marketing. These are customer oriented concepts aimed at generating customer <\/span>satisfaction .The<span style=\"text-align: initial; font-size: 1em;\"> starting stage of Marketing concepts is Production Stage then proceeds for sales oriented, <\/span>customer<span style=\"text-align: initial; font-size: 1em;\"> oriented and finally social oriented stage. From these <\/span>stages<span style=\"text-align: initial; font-size: 1em;\"> we know about the development of marketing concepts. The traditional concept of marketing is totally different from the Modern concept of Marketing. <\/span>Modern<span style=\"text-align: initial; font-size: 1em;\"> concept of marketing focus on customer satisfaction and it is <\/span>consumer<span style=\"text-align: initial; font-size: 1em;\"> oriented process. It creates and delivers the standard of living to the society and aims at earning profit only by satisfying the consumers. Whereas, the Traditional concept of Marketing <\/span>focus<span style=\"text-align: initial; font-size: 1em;\"> only on <\/span>production<span style=\"text-align: initial; font-size: 1em;\"> of commodities. It was based on the idea that a consumer would buy what the seller produces. It is the production Oriented concepts <\/span>aims<span style=\"text-align: initial; font-size: 1em;\"> at earning maximum profits and does not provide after sale services. There are also some new concepts of marketing which <\/span>enhances<span style=\"text-align: initial; font-size: 1em;\"> the new practices and opportunities for today\u201fs competitive world. At <\/span>last<span style=\"text-align: initial; font-size: 1em;\"> we can say that Marketing is seen as the task of creating, promoting, and delivering goods services to consumers and businesses. Marketers are skilled in stimulating demand for a company\u201fs products, but this is too limited a view of the tasks marketers performs. Just as production and logistics professional are responsible for supply management, marketers are responsible for demand management. Marketing managers seek to influence the level, timing, and composition of demand to meet the <\/span>organisation<span style=\"text-align: initial; font-size: 1em;\">\u201fs goals<\/span><span style=\"text-align: initial; font-size: 1em;\">. Marketing concepts <\/span>aims<span style=\"text-align: initial; font-size: 1em;\"> at serving customer demand by offerings right product, in <\/span>right<span style=\"text-align: initial; font-size: 1em;\"> amount at <\/span>right<span style=\"text-align: initial; font-size: 1em;\"> place and to right customers.<\/span><\/p>\r\n&nbsp;\r\n\r\n<\/div>\r\n<div><strong>Suggested Readings (Books and Websites)<\/strong><\/div>\r\n<ol>\r\n \t<li style=\"text-align: justify;\">Ghosh PK, Sales Management-Text and Cases, Himalaya Publishing House, 2010.<\/li>\r\n \t<li style=\"text-align: justify;\">Jobber David and Lancester Geoff, Selling and Sales Management, Pearson Education, Sixth Edition.<\/li>\r\n \t<li style=\"text-align: justify;\">McCarthy, Jerome E. (1964). Basic Marketing. A Managerial Approach. Homewood, IL: Irwin.<\/li>\r\n \t<li style=\"text-align: justify;\">Needham, Dave (1996). Business for Higher Awards. Oxford, England: Heinemann.<\/li>\r\n \t<li style=\"text-align: justify;\">Kotler, Philip (2012). Marketing Management. Pearson Education. Kotler, P. and Keller, K. (2006), Marketing and Management, Pearson Prentice Hall, Upper Saddle River, NJ, USA<\/li>\r\n \t<li style=\"text-align: justify;\">McCarthy, Jerome E. (1975)\u201dBasic Marketing: A Managerial Approach,\" fifth edition, Richard D. Irwin<\/li>\r\n<\/ol>","rendered":"<div>\n<p>\u00a0 \u00a0 1.\u00a0<strong>Learning outcomes<\/strong>:<\/p>\n<p>&nbsp;<\/p>\n<p>After completing this module, the students will be able to:<\/p>\n<ul>\n<li>Understand the meaning of marketing.<\/li>\n<li>Understand the evolution of marketing.<\/li>\n<li>Understand the development of marketing concept.<\/li>\n<li>Understand the new concepts of marketing.<\/li>\n<\/ul>\n<p><strong>\u00a0 \u00a0 2.\u00a0<\/strong><strong>Introduction:<\/strong><\/p>\n<p>&nbsp;<\/p>\n<p style=\"text-align: justify;\"><span style=\"text-align: initial; font-size: 1em;\">The marketing concept <\/span>come<span style=\"text-align: initial; font-size: 1em;\"> out in the mid- 1950s and challenged the proceeding concepts. For understanding the meaning of marketing, firstly understand the meaning of <\/span>market .The<span style=\"text-align: initial; font-size: 1em;\"> word Market is derived from the Latin word MARCATUS which means merchandise or trade or a place where business is conducted. Marketing is not only a place of exchange but an arrangement that provides an opportunity <\/span>of<span style=\"text-align: initial; font-size: 1em;\"> exchanging goods and services for money.<\/span><\/p>\n<p>&nbsp;<\/p>\n<p style=\"text-align: justify;\"><strong style=\"text-align: initial; font-size: 1em;\">Peter Drucker<\/strong><span style=\"text-align: initial; font-size: 1em;\">, a leading management theorist, puts it this way \u2013<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"text-align: initial; font-size: 1em;\">\u201cThere will always one can assume, be <\/span>need<span style=\"text-align: initial; font-size: 1em;\"> for some selling. But the aim of marketing is to make selling super fulvous. The aim of marketing is to know and understand the customer so well that the product or services fits him and sells it. Ideally, marketing should result in a customer who is ready to buy. All that should be needed then is to make the product or services available.\u201d<\/span><\/p>\n<p>&nbsp;<\/p>\n<p style=\"text-align: justify;\"><span style=\"text-align: initial; font-size: 1em;\">Marketing is a broader concept which includes all human activities in relation to the <\/span>market .<span style=\"text-align: initial; font-size: 1em;\">it includes product planning and development, buying and assembling, pricing distribution and selling, branding and packaging, standardization and <\/span>grading ,<span style=\"text-align: initial; font-size: 1em;\"> transportation and warehousing, promotion and advertising, financing, risk bearing, analysis of <\/span>market<span style=\"text-align: initial; font-size: 1em;\"> in terms of its present and potential customers.<\/span><\/p>\n<p>&nbsp;<\/p>\n<p style=\"text-align: justify;\"><strong style=\"text-align: initial; font-size: 1em;\">3. Origin and Meaning of Marketing :<\/strong><\/p>\n<p>&nbsp;<\/p>\n<p style=\"text-align: justify;\"><span style=\"text-align: initial; font-size: 1em;\">In <\/span>mid 1950s<span style=\"text-align: initial; font-size: 1em;\"> most firms were production oriented i.e. the manufacture emphasized only on production of quality products and then looked for people to purchase them. With the passage of time and technological advancement, the focus shifted to an effective sales force to find that customers for their <\/span>increasing<span style=\"text-align: initial; font-size: 1em;\"> output. After <\/span>1950s<span style=\"text-align: initial; font-size: 1em;\"> the marketing shifted to impressive concern that the manufacturer first looks into consideration the customers <\/span>wants<span style=\"text-align: initial; font-size: 1em;\"> and then manufactured their goods according to their interest. <\/span><\/p>\n<p>&nbsp;<\/p>\n<p style=\"text-align: justify;\"><span style=\"text-align: initial; font-size: 1em;\">The <\/span><strong style=\"text-align: initial; font-size: 1em;\">American Marketing Association<\/strong><span style=\"text-align: initial; font-size: 1em;\"> defines<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"text-align: initial; font-size: 1em;\">\u201cMarketing as the process of planning and executing the conception, pricing, promotion and distribution of ideas, goods <\/span>and<span style=\"text-align: initial; font-size: 1em;\"> services to create exchanges that satisfy individual and organizational objectives.\u201d<\/span><\/p>\n<p>&nbsp;<\/p>\n<p style=\"text-align: justify;\"><span style=\"text-align: initial; font-size: 1em;\">Marketing is a broader and comprehensive term and it includes <\/span>set<span style=\"text-align: initial; font-size: 1em;\"> of activities and important resources necessary to direct and facilitate the flow of goods and services from the producer to the consumer. Marketing also availing the right goods and services to the right people, at the right place and at the right time.<\/span><\/p>\n<p>&nbsp;<\/p>\n<p style=\"text-align: justify;\"><strong style=\"text-align: initial; font-size: 1em;\">4. Core Concept of Marketing:<\/strong><\/p>\n<p>&nbsp;<\/p>\n<p style=\"text-align: justify;\"><span style=\"text-align: initial; font-size: 1em;\">Philip Kotler explained the core concept of marketing in his book \u2013 \u201cMarketing Management\u201d\u00a0<\/span><span style=\"text-align: initial; font-size: 1em;\">as,<\/span><\/p>\n<\/div>\n<div>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-24 size-full\" src=\"http:\/\/mgmtp14.epgpbooks.inflibnet.ac.in\/wp-content\/uploads\/sites\/80\/2018\/10\/Untitled.png\" alt=\"\" width=\"953\" height=\"136\" srcset=\"https:\/\/ebooks.inflibnet.ac.in\/mgmtp14\/wp-content\/uploads\/sites\/80\/2018\/10\/Untitled.png 953w, https:\/\/ebooks.inflibnet.ac.in\/mgmtp14\/wp-content\/uploads\/sites\/80\/2018\/10\/Untitled-300x43.png 300w, https:\/\/ebooks.inflibnet.ac.in\/mgmtp14\/wp-content\/uploads\/sites\/80\/2018\/10\/Untitled-768x110.png 768w, https:\/\/ebooks.inflibnet.ac.in\/mgmtp14\/wp-content\/uploads\/sites\/80\/2018\/10\/Untitled-65x9.png 65w, https:\/\/ebooks.inflibnet.ac.in\/mgmtp14\/wp-content\/uploads\/sites\/80\/2018\/10\/Untitled-225x32.png 225w, https:\/\/ebooks.inflibnet.ac.in\/mgmtp14\/wp-content\/uploads\/sites\/80\/2018\/10\/Untitled-350x50.png 350w\" sizes=\"auto, (max-width: 953px) 100vw, 953px\" \/><\/p>\n<p>&nbsp;<\/p>\n<p><strong>Core Concept of Marketing<\/strong><\/p>\n<p>&nbsp;<\/p>\n<p style=\"text-align: justify;\">According to him, every human being has endless needs and demands . There are many products which can satisfy human wants and demands. These wants and demands can be fulfilled by exchange of goods and services . Marketers try to increase demand by making products more attractive , affordable and easily available .Market is a place where goods and services exchanged. Marketing means all those activities that take place in relation to market. Hence , the marketing is a social process by which individual and groups obtain what they need and want through exchanging products and values with others.<\/p>\n<p>&nbsp;<\/p>\n<p>5.\u00a0<strong>Definitions of Marketing :<\/strong><\/p>\n<p>&nbsp;<\/p>\n<p>To understand the concept of marketing different authors define marketing in their own way. Some definitions of Marketing are as follows:<\/p>\n<p>&nbsp;<\/p>\n<p style=\"text-align: justify;\"><strong>5.1 <\/strong>According to Pyle,(Principles of Marketing) \u2013 \u201c Marketing comprises both buying and selling activities.\u201d<\/p>\n<p style=\"text-align: justify;\"><strong>5.2 <\/strong>According to Tousley ,Clark and Clark ( Principles of Marketing ) \u2013 \u201cMarketing consists of those efforts which affect transfers in the ownership of goods and services and which provide for their physical distribution.\u201d<\/p>\n<p style=\"text-align: justify;\"><strong>5.3 <\/strong>According to Paul Mazur \u2013 \u201c Marketing is the delivery of standard of living.\u201d<\/p>\n<p style=\"text-align: justify;\"><strong>5.4 <\/strong>According to William J. Stanton \u2013 \u201c Marketing is a total system of interacting business activities designed to plan, price, promote and distribute want satisfying products and services to present and potential customers.\u201d<\/p>\n<p style=\"text-align: justify;\"><strong>5.5 <\/strong>According to H.L. Hansen (Marketing )- \u201cMarketing is the process of discovering and translating consumer needs and wants into product and service specifications, creating demand for these products and services and then in turn expanding the demand.\u201d<\/p>\n<p>&nbsp;<\/p>\n<p><strong>6 Marketing Concepts :<\/strong><\/p>\n<p>&nbsp;<\/p>\n<p style=\"text-align: justify;\"><span style=\"text-align: initial; font-size: 1em;\">To understand the meaning of modern <\/span>marketing ,<span style=\"text-align: initial; font-size: 1em;\"> one should be clear the meaning of marketing concepts. Marketing concepts <\/span>has<span style=\"text-align: initial; font-size: 1em;\"> two words: Marketing and Concepts. A concept is a philosophy, an attitude <\/span>and<span style=\"text-align: initial; font-size: 1em;\"> course of thinking. <\/span>Marketing<span style=\"text-align: initial; font-size: 1em;\"> concept is the philosophy that guides the activities of marketing.<\/span><\/p>\n<p>&nbsp;<\/p>\n<p style=\"text-align: justify;\"><strong style=\"text-align: initial; font-size: 1em;\">6.1<\/strong><span style=\"text-align: initial; font-size: 1em;\">\u00a0<\/span><strong style=\"text-align: initial; font-size: 1em;\">Definitions of Marketing Concept :<\/strong><\/p>\n<p>&nbsp;<\/p>\n<p style=\"text-align: justify;\"><span style=\"text-align: initial; font-size: 1em;\">i) According to Philip Kotler in his book,\u201d Marketing management \u201cstates <\/span>that ,\u201d<span style=\"text-align: initial; font-size: 1em;\">Marketing concept is customer oriented backed by integrated marketing aimed at generating customer satisfaction as the key to satisfying organizational goals.\u201d<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"text-align: initial; font-size: 1em;\">ii) According to Arthur P. Felton, \u201c Marketing concepts is a corporate state of mind that insists on the integration and coordination of all marketing functions, which in turn are welded with all the other corporate functions, for the basic objective of producing maximum <\/span>long range<span style=\"text-align: initial; font-size: 1em;\"> corporate profits.\u201d<\/span><\/p>\n<p>&nbsp;<\/p>\n<p style=\"text-align: justify;\"><strong style=\"text-align: initial; font-size: 1em;\">7. Development of Marketing Concept :<\/strong><\/p>\n<p>&nbsp;<\/p>\n<p style=\"text-align: justify;\"><span style=\"text-align: initial; font-size: 1em;\">The history of <\/span>development<span style=\"text-align: initial; font-size: 1em;\"> of marketing concept is divided into four stages:<\/span><\/p>\n<\/div>\n<div>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-26 size-full\" src=\"http:\/\/mgmtp14.epgpbooks.inflibnet.ac.in\/wp-content\/uploads\/sites\/80\/2018\/10\/Untitled-1.png\" alt=\"\" width=\"966\" height=\"355\" srcset=\"https:\/\/ebooks.inflibnet.ac.in\/mgmtp14\/wp-content\/uploads\/sites\/80\/2018\/10\/Untitled-1.png 966w, https:\/\/ebooks.inflibnet.ac.in\/mgmtp14\/wp-content\/uploads\/sites\/80\/2018\/10\/Untitled-1-300x110.png 300w, https:\/\/ebooks.inflibnet.ac.in\/mgmtp14\/wp-content\/uploads\/sites\/80\/2018\/10\/Untitled-1-768x282.png 768w, https:\/\/ebooks.inflibnet.ac.in\/mgmtp14\/wp-content\/uploads\/sites\/80\/2018\/10\/Untitled-1-65x24.png 65w, https:\/\/ebooks.inflibnet.ac.in\/mgmtp14\/wp-content\/uploads\/sites\/80\/2018\/10\/Untitled-1-225x83.png 225w, https:\/\/ebooks.inflibnet.ac.in\/mgmtp14\/wp-content\/uploads\/sites\/80\/2018\/10\/Untitled-1-350x129.png 350w\" sizes=\"auto, (max-width: 966px) 100vw, 966px\" \/><\/p>\n<p><strong>7.1<\/strong>\u00a0\u00a0\u00a0 <strong>1<\/strong><strong>st<\/strong><strong> Stage : Production \u2013 oriented Philosophy (1900 to 1930 )<\/strong><\/p>\n<p>&nbsp;<\/p>\n<p style=\"text-align: justify;\">Till 1930\u201fs , USA was facing shortage of production and at that time the general philosophy of business was ,\u201d <em>produce as much<\/em> <em>as u can , because there is a limitless market \u201c.<\/em> In this stage the main focus on increasing the production not the selling. Producers were busy to find\u00a0<span style=\"text-align: initial; font-size: 1em;\">and implement the ways and means which increases production. That\u201fs why this stage is called as production \u2013 oriented stage. The assumptions of this philosophy are :<\/span><\/p>\n<ul>\n<li style=\"text-align: justify;\"><span style=\"text-align: initial; font-size: 1em;\">Anything that can be produced can be sold.<\/span><\/li>\n<li style=\"text-align: justify;\">To keep the cost of production is low<\/li>\n<li style=\"text-align: justify;\">Produce only certain basic products.<\/li>\n<\/ul>\n<\/div>\n<div>\n<p><strong>\u00a0 \u00a0 7.2 2<\/strong><strong>nd<\/strong><strong> Stage : Sales \u2013 Oriented Philosophy ( 1930 to 1950 )<\/strong><\/p>\n<p>&nbsp;<\/p>\n<p style=\"text-align: justify;\">This stage lies between the periods from Great Depression to the end of World War II. During this stage the main problem was not production, but how to sell it. In this stage the focus of businessmen was shifted towards sales and this stage is called as sales \u2013 oriented stage. The main assumptions of this philosophy are:<\/p>\n<ul>\n<li>Production of good quality product<\/li>\n<li>Finding new buyers of the product<\/li>\n<li>Convince the buyers through good selling tactics.<\/li>\n<\/ul>\n<p><strong>\u00a0 \u00a0 7.3 3<\/strong><strong>rd<\/strong><strong> Stage : Customer \u2013 Oriented Philosophy ( 1950 to 1990)<\/strong><\/p>\n<p>&nbsp;<\/p>\n<p style=\"text-align: justify;\">In this stage the needs of the consumer determined and then integrated efforts were taken to produce the goods that satisfied these needs and wants. The main assumptions of the philosophy are :<\/p>\n<ul>\n<li>Only desired products by consumer should be produced,<\/li>\n<li>Consumer is treated as<span style=\"text-align: initial; font-size: 1em;\"> a king of the market,<\/span><\/li>\n<li>To integrate all activities to satisfy consumer wants.<\/li>\n<li>Focus on long range<span style=\"text-align: initial; font-size: 1em;\"> profits rather than \u201equick sales\u201f.<\/span><\/li>\n<\/ul>\n<p><strong>\u00a0 \u00a0 7.4\u00a0 4<\/strong><strong>th<\/strong><strong> Stage : Social \u2013 Oriented Philosophy (1990 to update )<\/strong><\/p>\n<p>&nbsp;<\/p>\n<p style=\"text-align: justify;\">In this stage focus not only consumer satisfaction but also for consumer welfare or social welfare. The assumptions of social orientation philosophy are :<\/p>\n<ul>\n<li>Only those products produced which are desired by the consumers,<\/li>\n<li>The purpose of the firm is long term<span style=\"text-align: initial; font-size: 1em;\"> profit objective rather than quick sales,<\/span><\/li>\n<li>The firm should discharge its social responsibilities .<\/li>\n<\/ul>\n<\/div>\n<p><strong style=\"text-align: initial; font-size: 1em;\">\u00a0 \u00a0 8. Different Concepts of Marketing :<\/strong><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"text-align: initial; font-size: 1em;\">Marketing has been defined by different people in different ways. Some important concepts are as follows:<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><strong style=\"text-align: initial; font-size: 1em;\">8.1 Production Concept :<\/strong><\/p>\n<p>&nbsp;<\/p>\n<p style=\"text-align: justify;\"><span style=\"text-align: initial; font-size: 1em;\">This is one of the oldest <\/span>concept<span style=\"text-align: initial; font-size: 1em;\"> of Marketing. According to that concept, producer\u00a0<\/span><span style=\"text-align: initial; font-size: 1em;\">believed that if the product is good and reasonably priced, it will be most popular if no special marketing efforts are made. In other words, customer <\/span>prefer<span style=\"text-align: initial; font-size: 1em;\"> those products which are low priced and easily available.<\/span><\/p>\n<p>&nbsp;<\/p>\n<p style=\"text-align: justify;\"><span style=\"text-align: initial; font-size: 1em;\">According to <\/span><strong style=\"text-align: initial; font-size: 1em;\">Philip Kotler ,<\/strong><span style=\"text-align: initial; font-size: 1em;\"> \u201c the production concept <\/span>hold<span style=\"text-align: initial; font-size: 1em;\"> that consumer will <\/span>favour<span style=\"text-align: initial; font-size: 1em;\">\u00a0those products that are widely available and low in cost management in production oriented organization concentrate on achieving high production efficiency and Distribution coverage.\u201d<\/span><\/p>\n<p>&nbsp;<\/p>\n<p style=\"text-align: justify;\"><span style=\"text-align: initial; font-size: 1em;\">This concept is very useful in <\/span>Banks ,<span style=\"text-align: initial; font-size: 1em;\"> General Hospitals and Industries which producing convenience products.<\/span><\/p>\n<p>&nbsp;<\/p>\n<p style=\"text-align: justify;\"><strong style=\"text-align: initial; font-size: 1em;\">8.2 Product Concept :<\/strong><\/p>\n<p>&nbsp;<\/p>\n<p style=\"text-align: justify;\"><span style=\"text-align: initial; font-size: 1em;\">According to this <\/span>concept,<span style=\"text-align: initial; font-size: 1em;\"> producer believed that by making superior products and improving their <\/span>quality,<span style=\"text-align: initial; font-size: 1em;\"> they will attract more customer. Superior products <\/span>are always prefer<span style=\"text-align: initial; font-size: 1em;\"> by the customer.<\/span><\/p>\n<p>&nbsp;<\/p>\n<p style=\"text-align: justify;\"><span style=\"text-align: initial; font-size: 1em;\">According to <\/span><strong style=\"text-align: initial; font-size: 1em;\">Philip kotler<\/strong>,<span style=\"text-align: initial; font-size: 1em;\">\u00a0\u201c The product concept holds that consumer will <\/span>favour<span style=\"text-align: initial; font-size: 1em;\"> those products that offer the most quality performance and <\/span>features.<span style=\"text-align: initial; font-size: 1em;\"> Management in these <\/span>product oriented<span style=\"text-align: initial; font-size: 1em;\"> organizations <\/span>focus<span style=\"text-align: initial; font-size: 1em;\"> their energy on manufacturing good quality products and improving them over time.<\/span><\/p>\n<p>&nbsp;<\/p>\n<p style=\"text-align: justify;\"><span style=\"text-align: initial; font-size: 1em;\">This concept is useful for specialized nursing homes, bakeries and Industries which are producing electronic products.<\/span><\/p>\n<p>&nbsp;<\/p>\n<p style=\"text-align: justify;\"><strong style=\"text-align: initial; font-size: 1em;\">8.3 Selling Concept:<\/strong><\/p>\n<p>&nbsp;<\/p>\n<p style=\"text-align: justify;\"><span style=\"text-align: initial; font-size: 1em;\">According to that concept, the customer will not normally purchase the product unless they are convinced through proper <\/span>advertising,<span style=\"text-align: initial; font-size: 1em;\"> sales promotion and salesmanship efforts. It shows that even the best products cannot have assured sales without the help of sales promotion. So, a marketing concept points out that goods are not bought but they sold with the help of salesmanship efforts, aggressive advertising <\/span>and<span style=\"text-align: initial; font-size: 1em;\"> intensive sales <\/span>promotion.<span style=\"text-align: initial; font-size: 1em;\"> This concept <\/span>change<span style=\"text-align: initial; font-size: 1em;\"> the attitude of marketers as sales \u2013 oriented. Some important aspects of selling are:<\/span><\/p>\n<ul>\n<li style=\"text-align: justify;\"><span style=\"text-align: initial; font-size: 1em;\">It provides a human touch to business transactions.<\/span><\/li>\n<li style=\"text-align: justify;\">It enhances the customer\u201fs confidence in the seller.<\/li>\n<li style=\"text-align: justify;\">It provides prospective customers of the product.<\/li>\n<\/ul>\n<div>\n<p>\u00a0 \u00a0 This concept is practiced in the NGO\u201fs, college admissions, offices and political parties.<\/p>\n<p>&nbsp;<\/p>\n<p><strong>8.4 Marketing Concept :<\/strong><\/p>\n<p>&nbsp;<\/p>\n<p style=\"text-align: justify;\">This concepts focus on the determination of the requirements of potential customers and supplying product to satisfy their requirements. This concept highlights that the primary task of every business enterprise is to study the needs, desires and values of potential customers. The market concept focus on the four points :<\/p>\n<ul>\n<li>Target market<\/li>\n<li>Customer Needs<\/li>\n<li>Integrated Marketing<\/li>\n<li>Profit through Customer Satisfaction.<\/li>\n<\/ul>\n<p><strong>\u00a0 \u00a08.5 Distribution of goods and services concept :<\/strong><\/p>\n<p>&nbsp;<\/p>\n<p style=\"text-align: justify;\">This is the traditional concept of marketing. According to this concept, marketing starts when the production process is completed and ends when goods are sold. It has no concern with the pre- production activities and after sales activities. Under this concept the firms are more concerned with maximizing their profits by maximizing their sales.<\/p>\n<p>&nbsp;<\/p>\n<p style=\"text-align: justify;\">According to <strong>American Marketing Association<\/strong>, \u201cMarketing is the performance of business activities that directs the flow of goods and services from producer to consumer or user.\u201d<\/p>\n<p>&nbsp;<\/p>\n<p style=\"text-align: justify;\"><strong style=\"text-align: initial; font-size: 1em;\">8.6 Creation of Utility concept :<\/strong><\/p>\n<p>&nbsp;<\/p>\n<p style=\"text-align: justify;\"><span style=\"text-align: initial; font-size: 1em;\">According to this <\/span>concept<span style=\"text-align: initial; font-size: 1em;\"> marketing is the creation of different types of utilities in goods and make them valuable.<\/span><\/p>\n<p>&nbsp;<\/p>\n<p style=\"text-align: justify;\"><span style=\"text-align: initial; font-size: 1em;\">According to <\/span><strong style=\"text-align: initial; font-size: 1em;\">Richard Buskirk,<\/strong><span style=\"text-align: initial; font-size: 1em;\"> \u201c Marketing is an integrated system of action that creates value in goods through the creation of <\/span>form,<span style=\"text-align: initial; font-size: 1em;\"> place, time and ownership utility.\u201d It means there are four types of utilities: Form Utility, Time utility, Place Utility, Possession Utility.<\/span><\/p>\n<p>&nbsp;<\/p>\n<p style=\"text-align: justify;\"><strong style=\"text-align: initial; font-size: 1em;\">For Example:<\/strong><\/p>\n<ul>\n<li style=\"text-align: justify;\"><span style=\"text-align: initial; font-size: 1em;\">Product Planning and development create form utility.<\/span><\/li>\n<li style=\"text-align: justify;\">Transportation and distribution channels create place<span style=\"text-align: initial; font-size: 1em;\">.<\/span><\/li>\n<li style=\"text-align: justify;\">Storage and warehousing create time utility.<\/li>\n<li style=\"text-align: justify;\">Salesmanship and Advertising create possession utility.<\/li>\n<\/ul>\n<\/div>\n<div>\n<p><strong>\u00a0 \u00a0 8.7 Societal Marketing Concept :<\/strong><\/p>\n<p>&nbsp;<\/p>\n<p style=\"text-align: justify;\">This is the new and broader concept of marketing. This concept focuses that the organization should first determine the needs, wants and interests of the target markets. It emphasized on producing goods and services which are beneficial for the society.<\/p>\n<p>&nbsp;<\/p>\n<p style=\"text-align: justify;\">According to <strong>Philip Kotler,<\/strong> \u201c Societal marketing concept is customer- orientated concept backed by integrated marketing aimed at generating customer satisfaction and long-run customer welfare as the key to attaining long \u2013 run profitable volume.\u201d<\/p>\n<p>&nbsp;<\/p>\n<p>This concept is based on the following assumptions:<\/p>\n<ul>\n<li>The organization shall offer long \u2013 run consumers and public welfare,<\/li>\n<li>The mission of an organization is to create satisfied customers,<\/li>\n<li style=\"text-align: justify;\">The organization will offer only those products to the customers which are beneficial both to the consumers and the society<span style=\"text-align: initial; font-size: 1em;\">.<\/span><\/li>\n<\/ul>\n<p><strong>\u00a0 \u00a0 8.8 Delivery of Standard of living Concept :<\/strong><\/p>\n<p>&nbsp;<\/p>\n<p style=\"text-align: justify;\">According to this concept, marketing includes all those activities which create and provide a better standard of living to the society. Consumers are motivated to\u00a0<span style=\"text-align: initial; font-size: 1em;\">purchase new products that are easily available in the market. This concept is a customer-oriented concept and is more close to the modern concept of marketing.<\/span><\/p>\n<p>&nbsp;<\/p>\n<p style=\"text-align: justify;\"><span style=\"text-align: initial; font-size: 1em;\">Acc .to <\/span><strong style=\"text-align: initial; font-size: 1em;\">Paul Mazur<\/strong><span style=\"text-align: initial; font-size: 1em;\">, \u201cMarketing is the creation and delivery of standard of living to the society.\u201d<\/span><\/p>\n<p>&nbsp;<\/p>\n<p style=\"text-align: justify;\"><span style=\"text-align: initial; font-size: 1em;\">Acc. to <\/span><strong style=\"text-align: initial; font-size: 1em;\">Prof. Malcolm McNair<\/strong><span style=\"text-align: initial; font-size: 1em;\">, \u201cMarketing is the creation and delivery of standard of living to the society.\u201d<\/span><\/p>\n<p>&nbsp;<\/p>\n<p style=\"text-align: justify;\"><strong style=\"text-align: initial; font-size: 1em;\">9.<\/strong><span style=\"text-align: initial; font-size: 1em;\">\u00a0<\/span><strong style=\"text-align: initial; font-size: 1em;\">Difference between Traditional and Modern Concepts of Marketing:<\/strong><\/p>\n<\/div>\n<div>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-27 size-full aligncenter\" src=\"http:\/\/mgmtp14.epgpbooks.inflibnet.ac.in\/wp-content\/uploads\/sites\/80\/2018\/10\/Untitled-2.png\" alt=\"\" width=\"535\" height=\"546\" srcset=\"https:\/\/ebooks.inflibnet.ac.in\/mgmtp14\/wp-content\/uploads\/sites\/80\/2018\/10\/Untitled-2.png 535w, https:\/\/ebooks.inflibnet.ac.in\/mgmtp14\/wp-content\/uploads\/sites\/80\/2018\/10\/Untitled-2-294x300.png 294w, https:\/\/ebooks.inflibnet.ac.in\/mgmtp14\/wp-content\/uploads\/sites\/80\/2018\/10\/Untitled-2-65x66.png 65w, https:\/\/ebooks.inflibnet.ac.in\/mgmtp14\/wp-content\/uploads\/sites\/80\/2018\/10\/Untitled-2-225x230.png 225w, https:\/\/ebooks.inflibnet.ac.in\/mgmtp14\/wp-content\/uploads\/sites\/80\/2018\/10\/Untitled-2-350x357.png 350w\" sizes=\"auto, (max-width: 535px) 100vw, 535px\" \/><\/p>\n<p>&nbsp;<\/p>\n<p><strong style=\"text-align: initial; font-size: 1em;\">10.\u00a0<\/strong><strong style=\"text-align: initial; font-size: 1em;\">Some New Concepts of Marketing :<\/strong><\/p>\n<p>&nbsp;<\/p>\n<p><strong style=\"text-align: initial; font-size: 1em;\">10.1 Relationship concept :<\/strong><\/p>\n<p style=\"text-align: justify;\"><span style=\"text-align: initial; font-size: 1em;\">Acc to Philip Kotler- \u201cRelationship marketing is the process of building <\/span>long\u2013term<span style=\"text-align: initial; font-size: 1em;\">, trusting, WIN-WIN relationship with customers, distributors, dealers <\/span>and<span style=\"text-align: initial; font-size: 1em;\"> suppliers. Relationship marketing promises and delivers high quality, efficient services and fair prices to the other party <\/span>overtime<span style=\"text-align: initial; font-size: 1em;\">. It is accomplished by strengthening the economic, technical and social ties between members of the two organizations or between the markets and the individual customer.\u201d<\/span><\/p>\n<p>&nbsp;<\/p>\n<p style=\"text-align: justify;\"><strong style=\"text-align: initial; font-size: 1em;\">10.2 Mass Marketing Concept :<\/strong><\/p>\n<p style=\"text-align: justify;\"><span style=\"text-align: initial; font-size: 1em;\">Mass Marketing means to sell the <\/span>mass produced<span style=\"text-align: initial; font-size: 1em;\"> goods. This concept <\/span>focus<span style=\"text-align: initial; font-size: 1em;\"> on <\/span>sale<span style=\"text-align: initial; font-size: 1em;\"> of mass production by using tools of mass marketing i.e. mass <\/span>advertising,<span style=\"text-align: initial; font-size: 1em;\"> mass <\/span>promotion,<span style=\"text-align: initial; font-size: 1em;\"> mass distribution to <\/span>large<span style=\"text-align: initial; font-size: 1em;\"> group of customers.<\/span><\/p>\n<p>&nbsp;<\/p>\n<p style=\"text-align: justify;\"><strong style=\"text-align: initial; font-size: 1em;\">10.3 Niche Marketing Concept :<\/strong><\/p>\n<p style=\"text-align: justify;\"><span style=\"text-align: initial; font-size: 1em;\">Niche Marketing is a concept where marketer plays a role of <\/span>specialist<span style=\"text-align: initial; font-size: 1em;\"> in particular segments. For <\/span>example:<span style=\"text-align: initial; font-size: 1em;\"> Quality Specialist for manage low or high quality of the products, Service Specialist for providing best services which are not provided by other <\/span>firms,<span style=\"text-align: initial; font-size: 1em;\"> Product line Specialist for availing only one product line or product.<\/span><\/p>\n<p>&nbsp;<\/p>\n<p style=\"text-align: justify;\"><strong style=\"text-align: initial; font-size: 1em;\">10.4 Strategic Marketing Concept :<\/strong><\/p>\n<p style=\"text-align: justify;\"><span style=\"text-align: initial; font-size: 1em;\">Strategic marketing is a <\/span>decision-making<span style=\"text-align: initial; font-size: 1em;\"> process which includes the analysis of internal potential and external environments of a firm in order to efficiently use the various marketing resources to achieve organizational objectives.<\/span><\/p>\n<p>&nbsp;<\/p>\n<p style=\"text-align: justify;\"><strong style=\"text-align: initial; font-size: 1em;\">10.5 Stimulation Marketing Concept :<\/strong><\/p>\n<p style=\"text-align: justify;\"><span style=\"text-align: initial; font-size: 1em;\">In this <\/span>concept<span style=\"text-align: initial; font-size: 1em;\"> a proper stimulation is provided to customers for buying the product. There is no demand in this situation and people are not interested <\/span>to purchasing<span style=\"text-align: initial; font-size: 1em;\"> the products, so to create demand stimulation is provided.<\/span><\/p>\n<p>&nbsp;<\/p>\n<p style=\"text-align: justify;\"><strong style=\"text-align: initial; font-size: 1em;\">10.6 Synchromarketing Concept <\/strong><span style=\"text-align: initial; font-size: 1em;\">:<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"text-align: initial; font-size: 1em;\">In this <\/span>concept<span style=\"text-align: initial; font-size: 1em;\"> there is a state of irregular demand or we can say that demand is more than supply. In other seasons, whatever is supplied goes to waste for want of <\/span>demand.<\/p>\n<p>&nbsp;<\/p>\n<p style=\"text-align: justify;\"><strong style=\"text-align: initial; font-size: 1em;\">10.7<\/strong><strong style=\"text-align: initial; font-size: 1em;\">Demarketing Concept :<\/strong><\/p>\n<p style=\"text-align: justify;\"><span style=\"text-align: initial; font-size: 1em;\">Under this <\/span>concept<span style=\"text-align: initial; font-size: 1em;\"> the demand for a product exceeds the supply and this is also known as overfull demand. the term overfull demand is defined as a situation in which demand exceeds the level at which the marketer feels able or motivated to supply it.<\/span><\/p>\n<p>&nbsp;<\/p>\n<p style=\"text-align: justify;\"><strong style=\"text-align: initial; font-size: 1em;\">10.8<\/strong><strong style=\"text-align: initial; font-size: 1em;\">Remarketing :<\/strong><\/p>\n<p style=\"text-align: justify;\"><span style=\"text-align: initial; font-size: 1em;\">Remarketing is associated with the term \u201c faltering demand <\/span>\u201c ,<span style=\"text-align: initial; font-size: 1em;\"> which is invariably for all kinds of <\/span>products, services, places,<span style=\"text-align: initial; font-size: 1em;\"> organization etc. In this state, there is a decline in demand for the products is possible, if no preventive action is taken to enhance the target market.<\/span><\/p>\n<p>&nbsp;<\/p>\n<p style=\"text-align: justify;\"><strong style=\"text-align: initial; font-size: 1em;\">10.9 Database Marketing Concept :<\/strong><\/p>\n<p style=\"text-align: justify;\"><span style=\"text-align: initial; font-size: 1em;\">Database Marketing is a process of collecting and using data on our customers and markets helps us to acquire a better understanding of the market so that we can utilize sales and marketing techniques in a more precise and <\/span>cost effective<span style=\"text-align: initial; font-size: 1em;\"> way.<\/span><\/p>\n<p>&nbsp;<\/p>\n<p style=\"text-align: justify;\"><strong style=\"text-align: initial; font-size: 1em;\">10.10 Network Marketing :<\/strong><\/p>\n<p style=\"text-align: justify;\"><span style=\"text-align: initial; font-size: 1em;\">Network means a strong interdependence between the firms controlling different activities, i.e. firms are components of a value <\/span>chain .<span style=\"text-align: initial; font-size: 1em;\"> So that is why the success of the value chain is not only dependent on its performance but is closely related to the interactions between all the firms making that chain. According to <\/span><strong style=\"text-align: initial; font-size: 1em;\">Kotler<\/strong><span style=\"text-align: initial; font-size: 1em;\"> ( 1991)- \u201c Marketing started out as an analysis of how commodities are produced and distributed through an economic system. Subsequently, we became interested in distribution channels themselves and the functions marketers perform. What I think we are witnessing today is a movement away from a focus on exchange in the narrow sense of transaction towards a focus on building <\/span>value- laden<span style=\"text-align: initial; font-size: 1em;\"> relationships and marketing networks \u2026..\u201d<\/span><\/p>\n<p>&nbsp;<\/p>\n<p style=\"text-align: justify;\"><strong style=\"text-align: initial; font-size: 1em;\">11.\u00a0<\/strong><strong style=\"text-align: initial; font-size: 1em;\">Summary :<\/strong><\/p>\n<p>&nbsp;<\/p>\n<p style=\"text-align: justify;\"><span style=\"text-align: initial; font-size: 1em;\">Marketing concepts emerged in <\/span>mid 1950s<span style=\"text-align: initial; font-size: 1em;\"> and challenged the proceeding concepts. Marketing as the process of planning and executing the conception, pricing, promotion <\/span>and<span style=\"text-align: initial; font-size: 1em;\"> distribution of ideas, goods and services to create exchanges that satisfy individual and organizational objectives. The core concepts of Marketing start from <\/span>needs,<span style=\"text-align: initial; font-size: 1em;\"> wants and demands and ends with market and marketers. Marketing concepts <\/span>tells<span style=\"text-align: initial; font-size: 1em;\"> us about the\u00a0<\/span><span style=\"text-align: initial; font-size: 1em;\">philosophy that guides the activities of marketing. These are customer oriented concepts aimed at generating customer <\/span>satisfaction .The<span style=\"text-align: initial; font-size: 1em;\"> starting stage of Marketing concepts is Production Stage then proceeds for sales oriented, <\/span>customer<span style=\"text-align: initial; font-size: 1em;\"> oriented and finally social oriented stage. From these <\/span>stages<span style=\"text-align: initial; font-size: 1em;\"> we know about the development of marketing concepts. The traditional concept of marketing is totally different from the Modern concept of Marketing. <\/span>Modern<span style=\"text-align: initial; font-size: 1em;\"> concept of marketing focus on customer satisfaction and it is <\/span>consumer<span style=\"text-align: initial; font-size: 1em;\"> oriented process. It creates and delivers the standard of living to the society and aims at earning profit only by satisfying the consumers. Whereas, the Traditional concept of Marketing <\/span>focus<span style=\"text-align: initial; font-size: 1em;\"> only on <\/span>production<span style=\"text-align: initial; font-size: 1em;\"> of commodities. It was based on the idea that a consumer would buy what the seller produces. It is the production Oriented concepts <\/span>aims<span style=\"text-align: initial; font-size: 1em;\"> at earning maximum profits and does not provide after sale services. There are also some new concepts of marketing which <\/span>enhances<span style=\"text-align: initial; font-size: 1em;\"> the new practices and opportunities for today\u201fs competitive world. At <\/span>last<span style=\"text-align: initial; font-size: 1em;\"> we can say that Marketing is seen as the task of creating, promoting, and delivering goods services to consumers and businesses. Marketers are skilled in stimulating demand for a company\u201fs products, but this is too limited a view of the tasks marketers performs. Just as production and logistics professional are responsible for supply management, marketers are responsible for demand management. Marketing managers seek to influence the level, timing, and composition of demand to meet the <\/span>organisation<span style=\"text-align: initial; font-size: 1em;\">\u201fs goals<\/span><span style=\"text-align: initial; font-size: 1em;\">. Marketing concepts <\/span>aims<span style=\"text-align: initial; font-size: 1em;\"> at serving customer demand by offerings right product, in <\/span>right<span style=\"text-align: initial; font-size: 1em;\"> amount at <\/span>right<span style=\"text-align: initial; font-size: 1em;\"> place and to right customers.<\/span><\/p>\n<p>&nbsp;<\/p>\n<\/div>\n<div><strong>Suggested Readings (Books and Websites)<\/strong><\/div>\n<ol>\n<li style=\"text-align: justify;\">Ghosh PK, Sales Management-Text and Cases, Himalaya Publishing House, 2010.<\/li>\n<li style=\"text-align: justify;\">Jobber David and Lancester Geoff, Selling and Sales Management, Pearson Education, Sixth Edition.<\/li>\n<li style=\"text-align: justify;\">McCarthy, Jerome E. (1964). Basic Marketing. A Managerial Approach. Homewood, IL: Irwin.<\/li>\n<li style=\"text-align: justify;\">Needham, Dave (1996). Business for Higher Awards. Oxford, England: Heinemann.<\/li>\n<li style=\"text-align: justify;\">Kotler, Philip (2012). Marketing Management. Pearson Education. Kotler, P. and Keller, K. (2006), Marketing and Management, Pearson Prentice Hall, Upper Saddle River, NJ, USA<\/li>\n<li style=\"text-align: justify;\">McCarthy, Jerome E. (1975)\u201dBasic Marketing: A Managerial Approach,&#8221; fifth edition, Richard D. Irwin<\/li>\n<\/ol>\n","protected":false},"author":3,"menu_order":2,"template":"","meta":{"_acf_changed":false,"pb_show_title":"on","pb_short_title":"","pb_subtitle":"","pb_authors":["ms-neetika-sharma"],"pb_section_license":""},"chapter-type":[],"contributor":[58],"license":[],"class_list":["post-20","chapter","type-chapter","status-publish","hentry","contributor-ms-neetika-sharma"],"part":3,"_links":{"self":[{"href":"https:\/\/ebooks.inflibnet.ac.in\/mgmtp14\/wp-json\/pressbooks\/v2\/chapters\/20","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ebooks.inflibnet.ac.in\/mgmtp14\/wp-json\/pressbooks\/v2\/chapters"}],"about":[{"href":"https:\/\/ebooks.inflibnet.ac.in\/mgmtp14\/wp-json\/wp\/v2\/types\/chapter"}],"author":[{"embeddable":true,"href":"https:\/\/ebooks.inflibnet.ac.in\/mgmtp14\/wp-json\/wp\/v2\/users\/3"}],"version-history":[{"count":7,"href":"https:\/\/ebooks.inflibnet.ac.in\/mgmtp14\/wp-json\/pressbooks\/v2\/chapters\/20\/revisions"}],"predecessor-version":[{"id":316,"href":"https:\/\/ebooks.inflibnet.ac.in\/mgmtp14\/wp-json\/pressbooks\/v2\/chapters\/20\/revisions\/316"}],"part":[{"href":"https:\/\/ebooks.inflibnet.ac.in\/mgmtp14\/wp-json\/pressbooks\/v2\/parts\/3"}],"metadata":[{"href":"https:\/\/ebooks.inflibnet.ac.in\/mgmtp14\/wp-json\/pressbooks\/v2\/chapters\/20\/metadata\/"}],"wp:attachment":[{"href":"https:\/\/ebooks.inflibnet.ac.in\/mgmtp14\/wp-json\/wp\/v2\/media?parent=20"}],"wp:term":[{"taxonomy":"chapter-type","embeddable":true,"href":"https:\/\/ebooks.inflibnet.ac.in\/mgmtp14\/wp-json\/pressbooks\/v2\/chapter-type?post=20"},{"taxonomy":"contributor","embeddable":true,"href":"https:\/\/ebooks.inflibnet.ac.in\/mgmtp14\/wp-json\/wp\/v2\/contributor?post=20"},{"taxonomy":"license","embeddable":true,"href":"https:\/\/ebooks.inflibnet.ac.in\/mgmtp14\/wp-json\/wp\/v2\/license?post=20"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}