Marketing is a process by which companies create value for customers and build
strong customer relationships to capture value from customers in return.
Designing a Customer-Driven Marketing Strategy
Marketing Management Orientations
1. Production concept is the idea that consumers will favor products that are
available or highly affordable.
2. Product concept is the idea that consumers will favor products that offer
the most quality, performance, and features. Organizations should
therefore devote its energy to making continuous product improvements.
3. Selling concept is the idea that consumers will not buy enough of the firm’s
products unless it undertakes a large scale selling and promotion effort.
4. Marketing concept is the idea that achieving organizational goals depends
on knowing the needs and wants of the target markets and delivering the
desired satisfactions better than competitors do.
5. Societal marketing concept is the idea that a company should make good
marketing decisions by considering consumers’ wants, the company’s
requirements, consumers’ long-term interests, and society’s long-run