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Evolution of Marketing and Its Significance

This document provides an overview of the evolution of marketing concepts from the early 1900s to modern views. It discusses early concepts like production and product-oriented views. It then explains how marketing evolved to focus more on customers and their needs through concepts like selling and marketing orientations. The marketing concept emphasizes determining customer needs and satisfying them over competitors. Finally, the document discusses the societal marketing concept and significance of adopting a marketing view for businesses.

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612 views26 pages

Evolution of Marketing and Its Significance

This document provides an overview of the evolution of marketing concepts from the early 1900s to modern views. It discusses early concepts like production and product-oriented views. It then explains how marketing evolved to focus more on customers and their needs through concepts like selling and marketing orientations. The marketing concept emphasizes determining customer needs and satisfying them over competitors. Finally, the document discusses the societal marketing concept and significance of adopting a marketing view for businesses.

Uploaded by

pRiNcE DuDhAtRa
Copyright
© Attribution Non-Commercial (BY-NC)
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PPT, PDF, TXT or read online on Scribd
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A PRESENTATION ON

EVOLUTION OF MARKETING AND ITS SIGNIFICANCE

CONTENTS
Introduction Marketing Concept Origin of marketing Evolution of Marketing Concept Modern view of the marketing concept Significance of the marketing concept References

INTRODUCTION
DEFINITIONS OF MARKETING A social and managerial process by which individuals and groups obtain what they need and want through creating and exchanging products and values with others Or A management function responsible for identifying, anticipating and satisfying customer requirements profitably

A SIMPLE MARKETING SYSTEM


Communication Products and Services

Industry (a collection of sellers)

Money

Market (a collection of buyers)

Information

MARKETING CONCEPT
Origin of marketing concept Evolution of marketing concept

Modern view of the marketing concept

THE ORIGIN OF MARKETING


Formal marketing is a recent creation of the early 1900s. Before that Caveman

necessities in short supply


fend for yourself

exchange commodities within close groups


production limited

Contd.
Families developed Competencies Capacities increased

Exchange became more prevalent


Industrial Revolution.. products & production increased Early 20th. Century population growth declined

Contd..
Increased capacities & declining demand led to the development of marketing Producers started joining hands together to seek new marketsCooperatives
Railways/improved transport made far off markets reachable

Contd..
Far off markets were the cue for Middlemen Advent of Printing technology Advertising helped establish

Products of one place/family came to be known by their nameBranding in its most nascent stage

EVOLUTION OF MARKETING CONCEPT


Products and production when anything produced could be easily sold Sales and sales department difficult - when selling became

Marketing department when the inter-relationship of the various marketing functions was realized Customer orientation marketing is a view or philosophy of business as a whole

EVOLUTION OF THE MARKETING ORIENTATION

EVOLUTION OF MARKETING PHILOSOPHIES


1. Production Concept 2. Product Concept 5. Societal Concept Key Marketing Concepts

4. Marketing Concept

3. Selling Concept

THE PRODUCTION CONCEPT

1. 2.

It holds that consumers will favor products that are available and highly affordable
Management should focus on improving production and distribution efficiency Useful in two types of situations: Demand exceeds the supply Products cost is too high The chief protagonist here was the industrialist Henry Ford

For e.g.
Ambassador car

Fiat car

THE PRODUCT CONCEPT


It holds that consumers will favor products that offer the most quality, performance, and innovative features
Continuous product improvements Qualitative concept

Marketing myopia

For e.g.
L'Oreal hair color

Sony products

THE SELLING CONCEPT


It holds that consumers will not buy enough of the organizations products unless it undertakes a large scale selling and promotion efforts
This concept emphasizes on to sell what they make rather that make what the market wants High risks

It focuses on creating sales transactions rather than on building long-term profitable relationships with customers

e.g. Amway

THE MARKETING CONCEPT


This philosophy holds that achieving organizational goals depends on determining the needs and wants of target markets and delivering the desired satisfactions more effectively and efficiently than competitors do

Meeting needs profitably


Many companies claim to practice the marketing concept, but they dont Marketers must balance creating more value for customers against making profit for the company

e.g. McDonald's

e.g. Wockhardt hospitals

SELLING CONCEPT AND MARKETING CONCEPT


STARTING POINT
Factory

FOCUS
Existing Products

MEANS
Selling $ Promoting

ENDS
Profits through Sales volume

THE SELLING CONCEPT

Market

Customer needs

Integrated marketing

Profits through Customer satisfaction

THE MARKETING CONCEPT

THE SOCIETAL MARKETING CONCEPT

This concept emphasizes on maintaining or improving the customers and the societys well-being
It is the newest of the five marketing management philosophies This concept says that the pure marketing concept overlooks possible conflicts between consumer short run wants and consumer long run welfare

E.g. Johnson & Johnson

The three considerations underlying the societal marketing concept are :


Society (Human Welfare)

Societal Marketing concept

Consumers (Want satisfaction)

Company (Profits)

MODERN VIEW OF MARKETING CONCEPT


Marketing orientation replaces production orientation

Elements of the modern marketing concept: 1. Customer is the focus not the product 2. Integrated effort is the means not the highpressure selling 3. Profit through customer satisfaction is the goal not mere sales volume

SIGNIFICANCE OF THE MARKETING CONCEPT


The whole world accepts Everybody is concerned with marketing only Applicable also to non-profit organizations Social marketing Importance of macro-marketing to society Micro-marketing for individual business units Applicable to all units, small or big Marketing for the survival of the business Most dynamic business function Higher consumer satisfaction

REFERENCES
Philip Kotler and Gary Armstrong Principles of Marketing Prentice hall of India, seventh edition New Delhi

S.J. Bedekar Marketing concepts and strategies Oxford university press,Mumbai www.google.com
www.quickmba.com

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