Meaning :
Meaning The societal concept proposes that the companies task is to determine the needs, wants and intention of the target market and to deliver the expected satisfaction more effectively and efficiently than the competitors in a way to preserve or enhance the consumers and society’s well being.
It combines the best elements of marketing to bring social change in an integrated planning and action framework with the utilization of communication technology and marketing techniques.
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Three Considerations of Societal Mktg Concept: - SOCIETY (Consumers Well Being) CUSTOMER (Profits) EMPLOYEES (Want Satisfaction) Societal
Marketing
Concept
Selling Concept :
Selling Concept Emphasis is on the product
Company manufactures the product first.
Management is sales volume oriented.
Planning is short run oriented in terms of todays products and markets.
Stresses needs of seller.
Views business as a good producing process.
Emphasis on staying with existing technology and reducing costs.
Cost determines price.
Selling views customers as a last link in business.
Marketing Concept :
Emphasis on customer needs and wants.
Company first determines customers needs and wants and then decides how to deliver a product to satisfy these wants.
Management is profit oriented.
Planning is long run oriented in terms of new products, tomorrows markets & future growth.
Stresses needs and wants of buyers.
Consumer determines Price & Price determines Cost.
Marketing views the customer as the very purpose of the business. Marketing Concept
Different types of Market :
Different types of Market Market can be analyzed via the product itself or end consumer or both.
The most common distinction is between consumer and industrial markets, which can be further diagrammatically explained as follows: -