Then, the paper presents a comprehensive model of customer value for the consumer market integrating consumer values, product benefits, logistic benefits, and various costs of consumption. Finally, the implications of holistic consumption behavior analysis for marketing strategy are discussed.
This concept is one of the oldest Marketing management orientations that guide sellers.
Companies adopting this orientation run a major risk of focusing too narrowly on their own operations and losing sight of the real objective. Most times; the production concept can lead to marketing Fundamental marketing concept. Management focuses on improving production and distribution efficiency.
Although; in some situations; the production concept is still a useful philosophy. Product Concept The product concept holds that the consumers will favor products that offer the most in quality, performance and innovative features. Here; under this concept, Marketing strategies are focused on making continuous product improvements.
Product quality and improvement are important parts of marketing strategies, sometimes the only part. For example; Suppose a company makes the best quality Floppy disk. But a customer does really need a floppy disk? She or he needs something that can be used to store the data.
So that company should not look to make the best floppy disk. Here the management focuses on creating sales transactions rather than on building long-term, profitable customer relationships. In other words; The aim is to sell what the company makes rather than making what the market wants.
Such aggressive selling program carries very high risks. This is usually very poor and costly assumption. Typically the selling concept is practiced with unsought goods. Unsought goods are that buyers do not normally think of buying, such as insurance or blood donations.
Under the marketing concept, customer focus and value are the routes to achieve sales and profits. The job is not to find the right customers for your product but to find the right products for your customers. The marketing concept and the selling concepts are two extreme concepts and totally different from each other.Three basic marketing concepts involve creating a message, branding and positioning.
Begin with a Message Marketing is about communication and communication begins with a message. When approaching investment in the stock market there are two very common methodologies used, fundamental analysis and technical analysis. As with any investment strategy there are advocates and detractors of each approach.
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