Unit 10: Marketing Management: Development Of Concept
Unit 10: Marketing Management – Development of Concept
10.1 INTRODUCTION
Marketing has become integral part of our day to day life. Formally or informally, people and organizations are involved in various activities that could term as marketing. A good marketing campaign is never a game of luck, but it is always, well-planned, well analyzed and well implanted strategy. A successful marketing is a perfect blend of science and art. A marketing strategy has to be creative unique and at the same time it must be based on real facts and targeting towards the prescribed goals and objectives.
Marketing management is the organizational discipline; it is concerned with the practical aspect of marketing orientation, techniques and methods used in …show more content…
The focus of modern marketing age is more on sales versus marketing and advertising versus retailing. In short, it can be said that the modern marketing has played crucial role in evolving the concept of business development. Since, the end of the 19th century, the concept of marketing has undergone through many phases. The coproduction oriented was conservative and follow rules-of-thumb and it badly lack of information. With the advent of Science &Technology and especially with the development of information technology many changes have been introduced in people’s life, it has changed the way people do the business and the way people sell and purchase. Here we are sharing a short summary of the various stages of evolution of marketing.
Production Orientation Era: The focus of the production orientation era was product-centric; the orientation believes that -“consumers favor products that are available and highly affordable”. The better products are produced and distributed, the stronger your position become in the market. It follows the rule of “availability and affordability is what the customer wants”. The era follow narrow product-lines; pricing system based on the costs of production and distribution, limited research, minimal expenditure on packaging and minimum promotion. Advertising meant, “Promoting products with a lesser
10.1 INTRODUCTION
Marketing has become integral part of our day to day life. Formally or informally, people and organizations are involved in various activities that could term as marketing. A good marketing campaign is never a game of luck, but it is always, well-planned, well analyzed and well implanted strategy. A successful marketing is a perfect blend of science and art. A marketing strategy has to be creative unique and at the same time it must be based on real facts and targeting towards the prescribed goals and objectives.
Marketing management is the organizational discipline; it is concerned with the practical aspect of marketing orientation, techniques and methods used in …show more content…
The focus of modern marketing age is more on sales versus marketing and advertising versus retailing. In short, it can be said that the modern marketing has played crucial role in evolving the concept of business development. Since, the end of the 19th century, the concept of marketing has undergone through many phases. The coproduction oriented was conservative and follow rules-of-thumb and it badly lack of information. With the advent of Science &Technology and especially with the development of information technology many changes have been introduced in people’s life, it has changed the way people do the business and the way people sell and purchase. Here we are sharing a short summary of the various stages of evolution of marketing.
Production Orientation Era: The focus of the production orientation era was product-centric; the orientation believes that -“consumers favor products that are available and highly affordable”. The better products are produced and distributed, the stronger your position become in the market. It follows the rule of “availability and affordability is what the customer wants”. The era follow narrow product-lines; pricing system based on the costs of production and distribution, limited research, minimal expenditure on packaging and minimum promotion. Advertising meant, “Promoting products with a lesser