CONCEPTS OF MARKETING

NAME-HARSH PRASAD
ROLL N0-33405021052
SUBJECT- MARKETING MANAGEMENT
 EXCHANGE CONCEPT :

• The central idea of the marketing is the exchange of

product between the seller and the buyer.
• Exchange covers the distribution aspect and the price
mechanism of the product.
• An exchange is a marketplace where securities ,
commodities, derivatives and other financial instruments
are traded.
 PRODUCTION CONCEPT:

• Production concept is a belief that states that the costumers would

always acquire products which are cheaper and more readily
available (or widely available).
• The production concept advocates that more the products or
production , more would be the sales . In countries where labor is
cheap and easily available , the production can be maximized while
minimizing the costs , hence increasing the product efficiency.
• India and china are great examples of the production concept of
marketing.
 SALES CONCEPT

• The selling concept is based on the premises that the customers won’t buy
goods/services of your brand unless you perform sales and promotional
activities at a large scale.
• Therefore, businesses and companies should carry out promotional and
marketing activities to accelerate their product in the market. Customers
have inner needs and your job is to convert their inner needs into buying
your product through motivation and persuasion.
• The selling concept is very useful for selling unsought goods I.e. insurance.
Where you find your target segment of the market first, and then you
persuade them by explaining the benefits of the product.
 MARKETING CONCEPT :

• Marketing is the process of getting the right goods or services or

ideas to the right people at the right place, time, and price, using
the right promotion techniques and utilizing the appropriate
people to provide the customer service associated with those
goods, services, or ideas.
• Today, companies of every size in all industries are applying the
marketing concept. Enterprise Rent-A-Car found that its customers
didn’t want to have to drive to its offices.
 RELATIONSHIP CONCEPT :

• The concept of relationship provides the analytical and operational

framework through which the relational paradigm reveals itself,
may be studied, and is put into practice. This concept gives hands
and voices to the process of continuous interaction in political,
social, and economic life.
• Blood relations involve the analysis of information showing blood
relationship between any two members is asked in the given
questions based on the chain relationships.
 EXPERIMENTAL CONCEPT :

• Experimental design is a scientific approach to data collection and

measurement. The concept focuses on creating an intervention in a
controlled environment with the purpose of establishing a relationship
between the independent and dependent variable.
• An example is Milgram’s experiment on obedience or Loftus and
Palmer’s car crash study. Strength: It is easier to replicate (I .e. copy) a
laboratory experiment. This is because a standardized procedure is
used. Strength: They allow for precise control of extraneous and
independent variables.