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1. The five marketing concepts that organizations conduct their marketing strategies include - Production, product, selling, marketing and societal marketing.
Production states that as consumers, we will have a tendency to purchase products that are available at the time and are fairly cheap to purchase, therefore managers should place more emphasis on ensuring these products are on the shelf. i.e. more efficient production and distribution. e.g. when the demand for a product is higher than what the production of a certain product.
Product states that consumers are more concerned with quality, does it offer something that the other one doesn't. Organizations tend to improve or make the best product and as consumers we look at solutions to problems and not just the product.
Selling concept assumes that consumers will not buy certain products unless management introduces a large-scale promotional campaign. Most commonly seen with products that are not on the consumer's minds when they are out shopping. Looks at finding a way to get existing products to a diverse consumer market.
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Marketing concept refers to organizations identifying the needs and wants of their target crowd and getting the organizations to produce a product that meets the consumer needs and wants more effectively than a competitor can. Looks at creating products for an existing market.
Societal concept is similar to the marketing concept in that it identifies the consumer's needs and wants but also determines the consumer's interests as well. Which means the organization is looking at improving the consumers well being.
I feel the societal concept should be adopted as it takes into consideration the long-term effect of the consumer and not just the short-term aspect.
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