In the Theories Category, we aim to provide reference notes on different theories of Marketing.
Pros and Cons of Societal Marketing Concept The societal marketing concept is also called the social concept of marketing, which refers to the marketing philosophy that considers three aspects of marketing – customer needs satisfaction, social welfare, and the company’s profit. Let’s explore the key pros and cons of societal marketing concept. Pros of Societal … Read more
Quick Summary The Societal Marketing Concept, introduced by Philip Kotler, prioritizes consumer needs, company goals, and societal welfare. It promotes ethical, sustainable practices that benefit both business and society. Examples include The Body Shop’s cruelty-free products and Adidas’s recycled shoes. While it enhances brand image and loyalty, challenges include higher costs and slow ROI. This … Read more
Selling Vs Marketing Concept Selling and marketing concepts are two major marketing philosophies each with different means, ends, and focus. Both are important marketing philosophies and are often sometimes interchangeably used, however, they hold great differences from each other. The selling concept lies in the idea of increasing sales through aggressive and heavy promotional methods. … Read more
Pros and Cons of Marketing Concept A marketing concept refers to a marketing philosophy that emphasizes companies produce products that customers want and demand in the market. In simple words, it says to produce products that customers want, instead produce products that you want to sell. Let’s explore some pros and cons of marketing concept … Read more
Quick Summary The Marketing Concept is a customer-centric philosophy where businesses design products/services to meet specific consumer needs, ensuring long-term success through satisfaction and loyalty. It involves market research, integrated strategies, and adaptability to trends. Examples include Apple’s targeted iPhones and Nike’s customizable shoes. Evolved approaches like Societal and Holistic Marketing further emphasize ethical practices … Read more
Pros and Cons of Selling Concept The selling concept of marketing refers to the marketing philosophy that believes that unless you aggressively promote your products and persuade consumers to buy your products they usually do not buy. It explains consumers need to be influenced to make them buy your products. Let’s look at some notable … Read more
Quick Summary The Selling Concept emphasizes aggressive promotion to convert customer interest into purchases, especially for unsought goods like insurance or luxury items. It focuses on short-term sales through persuasive tactics but risks neglecting customer needs and long-term relationships. While effective for clearing inventory or niche products, modern approaches (Marketing, Societal, and Holistic Concepts) prioritize … Read more