Analysis of the Marketing Approaches
Introduction to Marketing
Directions: Recall the traditional and contemporary approaches to marketing. With your group, list three
advantages and three disadvantages of marketing. There will be one point given for each correct
advantage and disadvantage listed. (36 items x 1 point)
Marketing Approach
Production Concept
Product Concept
Advantage
 A manufacturer will
never run low on the
product they are
producing.
 It may help companies
produce large volumes,
offered at good prices,
to consumers.
 Company produces as
much of a product as
they can and sells it for
a very reasonable price.
 Marketers do not need
to carry out extensive
research into their
target audience.
 Marketers believe that
customers will favor
products that are highly
engineered, high quality
and innovative.
 They can focus their
time and costs on
making the best
product possible rather
than catering towards a
customer’s needs.
Disadvantage
 Might result in lesser-
quality products and
preclude companies
from competing in
certain markets in turn.
 This concept is a wee
bit old-fashioned, so it
doesn't have a huge
assortment of
advantages in today's
fast-moving, high-tech
world.
 Producing a lot of
product constantly
really adds up; after all,
a company will need to
cover the costs of
running a
manufacturing facility,
paying laborers, buying
supplies and more.
 Relying on the product
to ‘sell itself’ can result
in some audiences
being neglected from
the advertising.
 There may be
consumers that would
have bought the
product but are not
made particularly aware
of its launch and
availability.
 Not carrying out
detailed research about
the target audience
means that owners
could miss prime
advertising
 opportunities or not
supply the product
specifications for the
audience’s desires and
needs.

 Accumulation of  Risks customer

immediate short-term confidence and loyalty
sales and customers because often the focus
who are presented the is on influencing or
Selling Concept "best deal," as is pressuring consumers
familiar when buying an into buying what they
automobile. don't want.
 The company has  Sales costs are high to
complete resources of produce different
vigorous marketing and campaigns in different
effective selling that media.
tend to have productive  Backlash which refers to
customers. loss of repeat or new
 Products turn to cash. customers due to
mistakes in promotion
approaches or
resistance to the
product

 The target customer  Companies are

group are better depleting earth’s
catered for. resources to please
 They are more likely to customers, who are
choose your product forever making
over the competitor's extravagant demands
Marketing Concept variety. on companies that are
 You have spent more just too ready to oblige.
time researching and  Customer satisfaction
looking at what the stills a subservient goal.
customer wants and  there always needs to
needs. be a buyer or demand
 You have altered the for the cycle to
product to suit these continue.
ideals and desires.

 It keeps customers
aware of special  Some customers will
promotions and inform refuse to share some of
them of new services or their information,
products. making it more difficult
  It tends to identify the
customers who are
more likely to be of
higher value to a
company.  Direct marketing is
 It saves the company
time and money in
terms of its sales and
Relationship Marketing order-fulfillment
Concept efforts.
 Customer relationship
marketing also helps
pinpoint customers who
are too costly to
maintain relationships
with, as well as
opportunities for  It might also be difficult
growing
underdeveloped
potential.
to take full advantage of
the concepts behind
customer relationship
marketing.
typically more
expensive per customer
than other forms due to
higher level of
personalization, it might
be more time-
consuming for a small
business to
communicate with its
customers on an
individual basis.
to decide what type of
customer information
to capture and store,
since only some of it
may prove useful.

 Maintain a long-term  Societal marketing

relationship with tends to operate on a
customers. Create a very limited budget and
better image in the may struggle to find
Societal Marketing Concept society for the company funds.
than its competitors.  The price is different.
 Develop community People must often give
awareness towards its up time, comfort, or
brands and it increase simply old habits to
the consumer base and follow a societal
market share. marketing message.
 It ensures the economic  It must convince the
planning more demographic that the
significant and more activity will have an
fruitful to society. accumulated societal
gain, which can be
difficult for individuals
to see and comes with
no immediate gain