Management Philosophies of Marketing
Some companies believe that it is easy to sell the productions when products are inexpensive and are easily available. So the firms following production concept focus on lowering the cost of production by means of mass production and distribution but the drawback of this concept is that customers don’t always buy products which are inexpensive and available.
Product concept firms which follow the product concept propose that the way to realize business goal is by making products that are of high quality. These firms manufacture the products of superior quality but they must keep in mind that customers will buy the high quality only when they need or want it, only quality is not enough force. For ex, the firm is dealing with a very high quality hair-dye but customer will demand it only when they have grey hair.
Selling concept the firm which follow the selling concept believe that in order to make a customer buy a product he or she need to be aggressive selling and promotional efforts. With selling concept the firm can make a customer buy something even when the customer has no intention of buying it. Firms relying on selling concept make use of advertising powers and other persuasion techniques to influence the customers.