Marketing Management and Philosophies

Topics: Marketing, Business, Marketing management Pages: 2 (401 words) Published: April 14, 2014
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

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 Concept and Selling Concept
The Selling Concept and the Marketing Concept are two different concepts of...
Continue Reading

Please join StudyMode to read the full document

You May Also Find These Documents Helpful

  • Marketing Management Essay
  • Marketing Philosophies Essay
  • MID TEST Marketing Management Essay
  • Answer Sheet Marketing Management Essay
  • Marketing Management: Questions and Answers Essay
  • Marketing Philosophy Essay
  • Marketing Management Essay
  • Marketing Philosophy Essay

Become a StudyMode Member

Sign Up - It's Free