Amity Sol Marketing Management Assignment
SECTION A
ANSWER 1..
Marketing management is the analysis, planning, implementation and control of programs designed to create, build, and maintain beneficial exchanges with target buyers for the purpose of achieving organizational objectives.
The various management philosophies are: a. The production concept: This concept is one of the oldest philosophies that guides sellers. The first occurs when the demand for a product exceeds the supply. The second situation occurs when the product’s cost is too high and improved productivity is needed to bring it down. b. The product concept: This concept holds that cosumers will favor products that offer the most quality, performance, and innovative features and that an organization should thus devote energy to making continuous product improvements. c. The selling concept: Many organizations follows the selling concept, which holds that consumers will not buy enough of the organization’s products unless it undertakes a large scale selling and promotion effort. d. The marketing concept: This holds that achieving organizational goals depends on determining the needs and wants of target markets and delivering the desired satisfactions more effectively and efficiently than competitors do.
The selling concept and the marketing concept are frequently misunderstood as same but they are two different concepts .The selling concept takes an inside-out perspective. It starts with the factory, focuses on the company’s existing products, and calls for heavy selling and promotion to obtain profitable sales. In contrast, the marketing concept takes an outside-in perspective. It starts with a well-defined market, focuses on consumer needs, co-ordinates all the marketing activities affecting customers, and makes profits by creating customer satisfaction. Under the marketing concept, companies produce what consumers want, thereby satisfying consumers and making profits.
The societal marketing concept holds that the
ANSWER 1..
Marketing management is the analysis, planning, implementation and control of programs designed to create, build, and maintain beneficial exchanges with target buyers for the purpose of achieving organizational objectives.
The various management philosophies are: a. The production concept: This concept is one of the oldest philosophies that guides sellers. The first occurs when the demand for a product exceeds the supply. The second situation occurs when the product’s cost is too high and improved productivity is needed to bring it down. b. The product concept: This concept holds that cosumers will favor products that offer the most quality, performance, and innovative features and that an organization should thus devote energy to making continuous product improvements. c. The selling concept: Many organizations follows the selling concept, which holds that consumers will not buy enough of the organization’s products unless it undertakes a large scale selling and promotion effort. d. The marketing concept: This holds that achieving organizational goals depends on determining the needs and wants of target markets and delivering the desired satisfactions more effectively and efficiently than competitors do.
The selling concept and the marketing concept are frequently misunderstood as same but they are two different concepts .The selling concept takes an inside-out perspective. It starts with the factory, focuses on the company’s existing products, and calls for heavy selling and promotion to obtain profitable sales. In contrast, the marketing concept takes an outside-in perspective. It starts with a well-defined market, focuses on consumer needs, co-ordinates all the marketing activities affecting customers, and makes profits by creating customer satisfaction. Under the marketing concept, companies produce what consumers want, thereby satisfying consumers and making profits.
The societal marketing concept holds that the