Marketing Management Philosophies and Process: From the views of the marketing management, it is an integration of planning, organizing, implementing and controlling marketing activities to achieve consumer satisfaction along with organizational objectives. In other words, we can say that its activities result in the exchange of goods and services. A company will be concentrate on the large scale of production for goods and services.
In short, marketing management means choosing a target market, growing customers in the target market, and creating superior value.
According to Philip Kotler, ”Marketing Management is the art and science of choosing target markets and getting, keeping and growing customers through creating delivering and communicating superior customer value of management”.
Management philosophies focus on the satisfaction of customer’s needs. The process of marketing management philosophies as identified by following activities:
Production concept of marketing holds the views that potential exchange would be realized when the products are widely available and inexpensive. Some other companies believe that it is easy to sell the products when they are inexpensive and widely available. So, the firm focuses on lowering the cost of production by means of mass production and distribution in production concept. It is of the quantity of the product. It was believed that profit maximization could be achieved through increasing level of production leading to an economical method of scale and with the lower cost of production. In production concept, availability and affordability of the product were considered to be the main criteria for the success of any organization. The drawbacks of this concept is that customer do not buy products which are inexpensive and available. It mainly focuses on large-scale production to decrease the cost.
The firms which follow the product concept of marketing propose that the way to realize organizational goals by making high quality of the product. Its concept suggests that quality products are always preferred and hence efforts should be directed towards continuous improvement. The drawbacks of this concept are that these firms manufacture the products of higher quality but they must keep in the mind that customers will buy the higher quality product only when they need or want, only quality is not enough to force. The company will also incur expenses on research and development for continuous improvement of the product. T is mainly focused on good quality of the product rather than its quantity.
The selling concept of marketing aims at influencing the customers to buy what a firm have to offer. Customers can be convinced by an undertaking of some aggressive selling and promotional efforts. Customers have no intention to buy the product. Firms relying on selling a concept make use of the advertising powers and other persuasions techniques to influence the customers. In selling the concept, the product is sold by hook and crook. The drawbacks of this concept are that it concentrates on the requirements and needs of the producers and whatever is produced. The y do not try to find out these requirements and needs of the customers. Selling relying on the buyer’s manipulation. It mainly focuses on selling the product whatever is produced by using intensive promotional techniques.
The marketing concept of marketing management concentrates on the need of the customers. This concept means that the product should be designed and produced keeping in mind the need of the customer. The y also try to satisfy the need better than their competitors. Under marketing, concept firms don’t sell what they have but what the produced and sells what customers want.
Its salient features are as follow:
- Identification of market or customers targeting.
- Identifying their needs and wants.
- Developing a product to cater to their needs and wants.
- Satisfying their needs better than the competitors.
- Performing all these functions to earn a profit.
It mainly focuses on customer’s satisfaction.
The societal concept of marketing management holds that the task of the organizational is to determine the needs, wants and the interest of the target markets and to deliver the desired satisfaction more effectively and efficiently than the competitors in a particular way that preserves and enhances the well-being of the customers and the society. The n also it has attracted criticism from some people who are very concerned about society and environment. The y argue that companies should not follow the goal of the customer satisfaction. This may lead to many social and environmental ills. The satisfaction of the customer must be within the ethical ecological aspects of our society. It mainly focuses on profit through customer satisfaction and social welfare.
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