Levitt's Marketing Concept

Marketing Concept

In the 1950 s the marketing concept emerged. As a business philosophy the marketing concept is aimed at orienting a firm completely towards its customers. All major decisions in any area without taking marketing implications into account.

The marketing concept may seem an obvious and sensible approach to running a business. There are 5 main orientations/philosophies in marketing concepts. Those are as follows;

 Production Orientation

This concept begins with the rise of industrial revolution and it’s one of oldest concept guiding companies on their orientation towards the market place.

The production concept holds that consumers will favor those products that are widely available and low in cost. Managers of production

(Learnmarketing.net, n.d.). Some organizations believes that customers will like to buy their product more if they have a superior product. There is a problem with this approach. Because making that product as a superior product does not sell those alone. It also need to satisfy customer’s needs and wants. And also organization must has a good insights about their customers and their needs and desires. Most of the companies spend lot of time and money to research to find out their target audience. Developing extra features for the product to make customers satisfy with their purchase was started with this

The word myopia refers to “short sightedness”. What it says is that these companies tend to focus on the product rather than on consumer’s needs.

 Sales Orientation

Market the product and then sell it to the target market are the main focuses of a sales oriented company. Therefore, this involves to selling existing products using promotional techniques also make higher sales possibly. This also helps organizations to hold their stock level because if they couldn’t produce products as customers’ demands then it will change customer’s tastes.

 Marketing Orientation

Every organization needs to have a good management to earn customers’ loyalty to their company and also to be successful. To achieve organization goals have to implement good strategies. An organization is said to be market oriented when it follows the marketing philosophy right across the organization. That is all the functions in the organization are aligned in meeting the requirements of the customers.

Achieving organizational goals by focusing on identifying customer needs and wants and produce products to satisfy them efficiently and effectively, we can define this as marketing