I think Marketing lesson are very useful for both the consumers and as well as the sellers or producers. It will make both the parties understand each others mind i.e. Consumers can understand what products are produced, for what purpose and how it can be useful for them or also get the bad side by seeing whether it does have a use or are they just to induce people to buy it.
Producers or the marketers who market their products should also understand the needs of the consumers and try to satisfy it accordingly. They should understand that people buy things for a purpose and not because they like the product. For eg : The sole purpose of Pespi or Coca Cola’s existence is : To Quench Thirst which can also be done by water or lemon juice but how you make them change their views about what to drink. So accordingly, they have to understand this to penetrate into the minds of the consumers and which will also help them succeed.
So here I’m to tell you all that I know about marketing from both the point of view or just a common view:
To understand marketing, we have to know how it evolved, lets understand that.
Evolution of Marketing Concepts:
1. Production Concept:
This happened in the world after the industrial revolution, wherein goods were just produced and they were just induced the customers to buy without any purpose.
2. Product Concept:
This was when all the industries started facing a challenge called as competition wherein they had to compete against each other for survival. So thats when they at least tried to bring about the needs of the customers.
3. Selling Concept:
It is said that this was when people started dreading the salesmen and marketers who tried to give products because they had too much competition. They were treated as fraud and cheaters because all they did was sell whether it was needed or not.
4. Marketing Concept:
Somewhere after the selling concept, they realized that it was never gonna work unless they try to satisfy the customers(finally). So they tried to identify the needs of their customers and developed a product accordingly.
5. Customer Concept:
This is when the first phase of customization took place wherein the customers were treated as kings and they also identified that every potential customer had a different need to be satisfied with the same product.
6. Societal Marketing Concept:
This phase if when all that Go Green and other Eco- Friendly products were produced as they realized the ill effects of global warming and other harm to the environment. This was just a recent development as we all know.
7. Holistic Marketing Concept:
This is like the concept of saying that the whole company has to work upon just one factor: Satisfy the customer’s need. Be it the Finance or HR or Admin or any other department which had to follow this thumb rule. ‘ The customer is king.’
8. Strategic Marketing Concept:
This is the latest one, which has been added lately. At this stage, it is said the whole world has become an experience economy. For eg: When we buy a phone, we want to touch, feel and use it before it sinks into our minds that this what we need. Why this has evolved over this time is because, we have so much information available so the customers know more than what we as marketers know.
Likewise, these concepts can get an addition any day because the time keeps changing so does markets.
PS: This is my 200th post. I’m so overwhelmed by your support. Thank you friends.