Describe the FIVE (5) marketing management orientations and explain marketing management in today’s terms.
The 5 marketing management orientations are production concept, product concept, sales concept, marketing concept and social marketing concept. Production concept assumes that customers will want to buy products or services that are easily available and affordable. Hence, management would focus more on production efficiency and distribution of the product. This concept is useful when the demand of a product is higher than its supply. Coca-cola is one of the successful examples of companies that adopt production concept. The company makes Coca-cola can be purchased almost everywhere in a country, either urban area or rural area. Product concept assumes that customers will favour products that offer the most quality and innovative features. Companies holding this concept therefore concentrate on making continuous product improvements. However, the employees, especially the managers, will tend to trap in the “better mousetrap” fallacy and lose sight of the long term goals of the company and the needs of the customers. Nevertheless, there’re still some successful examples of this concept. For example, in order to compete with other brands of coloured pencils, Faber-Castell has introduced and promoted its “non-toxic coloured pencils” which has successfully won the support from those parents who are more emphasising on safety of usage. Sales concept believes that customer will not buy the firm’s products unless aggressive selling techniques are undertaken by the firm. The firm usually urge its employees to master the hard selling techniques so that they can be more persuasive when they are trying to promote products of the firm to potential customers. This concept is usually adapted by the career field which has over capacity of companies such as insurance firms. Promoters of the insurance firms usually use some harsh words like “die” or “accidents” to make...
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