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6 Cards in this Set
- Front
- Back
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What are the 5 marketing management orientations |
1.Production concept 2.Product concept 3.Selling concept 4.Societal concept 5.Marketing concept |
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What is the production concept |
FOCUS- manufacturing using a low cost strategyCHARACTERISTICS-increased production, standardised products, cost reduction l, profit through volume ASSUMPTIONS-market is price sensitive, demand is greater than supply |
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What is the product concept |
FOCUS-strategy of innovation CHARACTERISTICS-quality is all that matters, keeping improving quality lvls, profit through volume ASSUMPTION-consumers want better versiom of the same products |
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What is the selling concept |
FOCUS-selling what is produced CHARACTERISTICS-aggressive sales promotion, profit through quick turnover of high volume, selling unsought goods, short term/transactional approach ASSUMES-customers initially reluctant to purchase, those who buy will like the product |
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What is the societal concept |
FOCUS-societies long term wellbeing CHARACTERISTICS-uses 'green' marketing, profits through providing for societies welfare ASSUMES-customer satisfaction through building relationships to bemefit all,long-term consumersand societal well being as the keys to staisfying organisational goals and responsibilities |
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What is the marketing concept |
FOCUS-looking at the target market, defining what customers want CHARACTERISTICS-customer needs, defining needs in advance of production, profits achieved through customer satisfaction and loyalty ASSUMES- customers are not price driven when looking for an offering |
