In the Theories Category, we aim to provide reference notes on different theories of Marketing.
Product Vs Production Concept Product and production concepts are two marketing philosophies that talk about the idea of producing products, selling, and generating profits. While these marketing philosophies might sometimes be used interchangeably, they hold a great difference between them. On the one hand, the product concept of marketing refers to the philosophy that believes … Read more
Pros and Cons of Product Concept Product concept in marketing refers to the belief that consumers opt for a product that has higher quality and performance. It argues consumers choose product quality over product price. Let’s explore some notable pros and cons of product concept of marketing. Pros of Product Concept The product concept of … Read more
Pros and Cons of Production Concept The production concept is the marketing philosophy that relies on the belief that people buy product that has lower yet affordable prices. As such, it emphasizes companies to focus on mass production and earn profit through production efficiency. Let’s explore some pros and cons of production concept of marketing. … Read more
Definition of Production Concept The production concept relies on the idea that customers are inclined to choose products that are easily accessible and cost-effective. Businesses under this philosophy aim to maximize profits by producing large quantities, benefiting from economies of scale. This approach originated during the Industrial Revolution to meet high demands stimulated by a … Read more
If you have read about marketing strategy – I am sure you have heard about the 4 Ps of Marketing – Product, Price, Place, and Promotion. But, did you hear about the 4 Cs of Marketing? If not, don’t worry, in this article I will walk you through these 4 Cs of Marketing in detail. … Read more
What are 3 Ps of Marketing Mix? The 3 Ps of marketing mix include the People, Process, and Physical Evidence which are added to the original Marketing Mix i.e. 4 Ps – Product, Price, Place, and Promotion. These additional 3 Ps of the marketing mix look into the service factors of the business. Since the … Read more
What are the 4 Ps of Marketing Mix? The 4 Ps of Marketing Mix, developed by Jerome McCarthy in the 1960s, are the fundamental pillars of a marketing strategy. They consist of Product, Price, Place, and Promotion. These elements enable businesses to effectively reach their target markets and achieve sales goals. They’ve long served as … Read more