1.4 Evolution of the Marketing Concept

• 5 Evolutions of Marketing:

  1. Production Concept
  2. Product Concept
  3. Selling Concept
  4. Marketing Concept
  5. Societal Marketing Concept
• The production concept assumed that consumers were mostly interested in product availability and price, not necessarily product features. As a result, companies concentrated on high production, low costs, and mass distribution.
• Societal Marketing Concept: Companies make good marketing decisions by considering not only consumers’ wants and needs but additionally the balance between those wants and needs and the company’s capabilities and society’s long-term interests.
• The marketing concept was built on the premise that an organization will achieve its goals when it satisfies the needs and wants of the consumer.
• The basic premise of the sales concept was that consumers and businesses need to be “coaxed” into buying, and the aim of companies was to sell what they made rather than make what consumers wanted.
• Societal Marketing Concept: This means meeting consumers’ and businesses’ current needs while simultaneously being aware of the environmental impact of marketing decisions on future generations’ ability to meet their needs.
• Selling concept: During which marketing era concept would companies not only produce products but also try to persuade customers through advertising and personal selling to purchase those products?
• 1950's: This is the time when mass production had become the norm rather than the exception.