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MANAGEMENT STRATEGIES MARKETING
Marketing management is carrying out tasks to achieve
desired exchanges with target markets. What strategy
should guide these marketing efforts?
There are five competing concepts under w hich organizations
conduct their marketing activity: the production, product,
selling, marketing, and societal marketing concepts. The Production Concept The production concept holds that consumers will favor products that are highly affordable and available, and therefore management should focus on improving production and distribution efficiency. Concept is one This of the oldest philosophies guiding sellers. The production concept is a proper strategy in two types of situations. The first In, the demand for a product is bigger than the supply. This case In, management should look for ways to increase production. Second situation is The one in which the product's cost is high and improved productivity is needed to bring it down. Texas Instruments Today (TI) follows the philosophy of increased production and lower costs in order to bring down prices. It won a major this content share of the American hand-calculator market with this philosophy. The Product Concept Another major concept guiding sellers, the product concept holds that consumers will favor products that offer the most quality, performance, and features, and therefore the organization should its energy to devote making continuous product improvements. The product concept Sometimes leads to marketing myopia. Management thought that Railroad users wanted treiins rather than transportation and overlooked the growing challenge of airlines, buses, trucks, and automobiles. Colleges assume that high school graduates want a liberal arts education rather than specific job skills and overlook the increasing challenge of vocational schools. The Selling Concept Many organizations follow the selling concept, which holds that consumers will not buy enough of the organization's products unless the organization a large undertakes selling and promotion effort. Selling concept is The practiced hardest with unsought goods, those buyers that normally do not think of buying, such as insurance, encyclopedias, and funeral plots. Industries are good These at tracking down prospects and hard-selling them on product benefits. Selling The concept is also practiced in the nonprofit area. Political A party will vigorously sell its candidate to the voters as being a fantastic person for the job.
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