Marketing Concepts and Philosophies
Course – AB-219-01
Marketing Concepts and Philosophies
Marketing is a very important activity in all business sectors today. It is the act of developing,pricing, delivering and promoting of a good or service in order to satisfy and retain customers and meet organization goals and objectives. The activity involves buying, selling, communicating and delivery of a valuable items or service through market research and advertising to build solid customer relationships and design value for the organization and their clientele. In marketing the customer comesfirst, this is where the customer’s interest is prioritized.Marketing involves creating an exchange, communication and delivery of valuables to customers in order to bring together ideas and resources ( Babin & Zikmund, 2015).
Geoffrey Small is a fashion designer who focuses on social justice and connecting with buyers. In his video, he explains how he started his clothing company, clothes designs and different characteristics and habits of buyers.Small actively implements the marketing concept by designing attires that meet the needs of his clients. His clothes can last for so many years due to its quality and nature being from a firm that supports civil rights and the environment of its society.He Identified a section of rich and social buyers who were determined to get a certain brand whatever it costs This made the design of high value clothing where he emphasized that the customer should be given what they need and that they need badly enough that they are willing to give you money for it .
Most successful business firms and organizations employ marketing concepts and philosophies in marketing their products or services with an aim of meeting their goals as well as satisfying their client’s wants and needs which is of great importance when it comes to management at all levels.There exist four philosophies of marketing that evolved because of marketing concept and philosophy that includes product, selling, societal -marketing and marketing philosophies, which are applicableuntil date.
According to Lantos (2015), sellingphilosophy is whereby a firm can sell a product by use of advertisements and personal selling to less their inventories and sell their goods.This enables them to design marketing sections or departments that will carry out sales of goods only while other sectors to deal with production that lead to end of product shortages and developing of surpluses making organizations efficient and effective due to the increase in volume of goods which leads high supply hence competition in production.
Product philosophy is another where a firm knows its production well the kind of product they produce, what will work in their design and that will not work, the firm here has a solid knowledge and technical knowhow in developing a product and got what it takes to produce the best for a consumer or customer.
Marketing philosophy dominated long ago till date, this philosophy recognizes that a firm’s skills and techniques creating and producing products may not fully satisfy the needs of consumers or clientele as well even with a good and well trained team of sales representatives, as product that do not meet the needs and wants of consumers cannot be sold either. Consumers always goes for what meets their needs.
Societal-marketing philosophy is more than the marketing philosophy that focuses on the interest of society’s at large as well sustaining and improving best interest of individuals.
Geoffrey Small Company employs societal -marketing management philosophy where he specifically identifies the needs of the clients through the market philosophy,what are the consumer needs or wants? Verses societal which is based on the way of life of a people, traditions and civil rights.Basically an organization does not only exists to satisfy the consumer wants and needs but also to achieve the organizational goals and objectives which concerns the interest of individuals and the entire society.
Product management philosophy works bests when internal operations of the firm strive for business decisions than focusing on the demands of the market in terms of needs and wants. When small refused to give into pressure to earn more ,to reduce prices, to change his methods of designing clothing so that he keeps using locally made products and sustains a best and high level of quality this demonstrated his commitment to the societal marketing philosophy.Small believes that his method for designing clothes are in theindividualand society’s interests.
As discussed earlier the marketing philosophies focuses on consumer needs and preference where their main aim is to satisfy their clients through coordinated activities which deals with specific target group, which enables an organization to create a solid relationship withthe clientele
Geoffrey Small, by providing the consumer top quality product that lasts 25 years isproviding customer satisfaction he is making the garmentless expensive because it needs not to be replaced every time. He illustrates how customers crave personal interaction knowledge of the person who created the garmentunique, humanness in their clothing this is where he builds relationships with the customers by increasing the handwork on his clothing. The type of quality and longevity desired by Small clients also needs the satisfaction and performance of the products.
Geoffrey Small does not advertise he lets the clothes speak for themselves he educates his customers to understand the value that comes in longevity and friendly products that work.
In conclusion, marketing remains to be the most crucial activity in businesses today.Marketing concepts and philosophies of selling,marketing,product and societal-marketing have enabled organizations to progress to higher levels leading to competitive economy globally.
Babin, B. J., & Zikmund, W. G. (2015). Exploring marketing research. Cengage Learning.
Lantos, G. P. (2015). Consumer behavior in action: Real-life applications for marketing
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