Lesson
1
Marketing Approaches
In the previous lesson, you have learned the marketing principles and
goals. Now you will discover how businesses conduct their marketing
activities using the different approaches to marketing.
The main objective of businesses is to make profits. Products and services
need to be purchased not just once but continuously patronized by the
customers in o r d e r f o r t h e b u s i n e s s e s t o b e s u s t a i n a b l e a n d
a c h i e v e t h e i r g o a l s . T h e m a r k e t i n g a p p r o a c h e s serve as guide on
how businesses conduct their marketing activities
Traditional Approaches to Marketing
It was evident that up to late 1960s, traditional approaches are
t h e p r o f i t drivers in marketing. Let us analyze the following concepts.
1. The Production Concept
The production concept assumes that customers prefer products that are
affordable and available. The focus is on improving the distribution and
production efficiency b y l o w e r i n g t h e p r o d u c t i o n c o s t s w h i c h w i l l
result to lower prices of the products. Production concept is
u s e f u l a n d c a n b e a p p l i e d w h e n d e m a n d e x c e e d s supply.
Therefore manufacturing companies will produce more to meet the demand for
their products.
2. The Product Concept
The product concept assumes that customers prefer products that offer high
quality. It is focused on continuously improving the
p r o d u c t s ’ f e a t u r e s t h r o u g h i n n o v a t i o n s t h o u g h the product
concept aims for product quality, it may ignore the customer’s changing needs
and wants.
3. Selling Concept
The selling concept highlights heavy selling and promotional efforts to
persuade the customers to buy the product that will result to profitable
sales. This is typically used in products where the customers do not
think of buying, such as encyclopedias and funeral plans. The goal
is to sell what the businesses manufacture or sell rather than what the
customers want.
Contemporary Approaches to Marketing
Because of the desire of businesses to provide goods and services to
customersand earn more profits, the following concepts are developed.
1. The Marketing Concept
The marketing concept determines the customers’ needs and wants. The focus
is on the effective creation and delivery of products and services that
will satisfy and add value to the customers. Thus, business adapts a strategy
to do this better than its competitors
2. The Relationship Marketing Concept
The relationship marketing concept holds to long-term relationship with
customers. It is focused on the marketing activities of the businesses in
establishing, strengthening and maintaining the relationship with their
customers. The customer profiles, purchase records and preferences are
being tracked, monitored and updated. Constant communication through
phone calls, electronic mails, and text messages is
being done to create a strong customer connection. This
c o n n e c t i o n c a n l e a d t o ongoing business, free word-of-mouth promotion
and information from customers that can generate new customers.
3. The Societal Marketing Concept
The societal marketing concept is similar to the marketing concept. Aside from
determining the customers’ needs and wants, the societal marketing concept
includes the well-being and interests of the customers, environment and the
society. In these modern times, businesses do not adapt a single
concept, they used a combination of these approaches to conduct their
marketing activities and achieve their goals of sustainability and
profitability.
Self-evaluation
Activity No. 1
1.Look at the picture, what comes to
your mind whenever you see this name?
_____________________________________________________________________________
___ _________________________________________________________________________
_______ _____________________________________________________________________
___________ _________________________________________________________________
_______________
2.Do you find it amazing that among the seventy-four malls in the
Philippines,four of them are in Pampanga? What do you think are the
reasons they becomethis big and profitable? How did they achieve this?
_____________________________________________________________________________
___ _________________________________________________________________________
_______ _____________________________________________________________________
___________ _________________________________________________________________
_______________
Activity No. 2
Is it Traditional or Contemporary?
Directions:
Identify the following i f i t ’ s u n d e r T r a d i t i o n a l o r
C o n t e m p o r a r y approaches to marketing. Write your
a n s w e r s o n a s e p a r a t e s h e e t o f paper.
___________________1. Product Concept
___________________2. Marketing Concept
___________________3. Relationship Marketing Concept
___________________4. Production Concept
___________________5. Selling Concept
___________________6. Societal Marketing Concept
https://www.scribd.com/search?query=principles%20of%20marketing
%20module%201
