Back to: Marketing SS3
Welcome to today’s class!!
We are thrilled to have you in our class!!
In today’s Marketing class, we will be learning about Societal Marketing Concepts
Societal Marketing Concepts
Remember how we said in our last class that marketing concepts serve as basic principles guiding the marketing process. They form the basis for developing strategies and tactics to achieve marketing goals.
There are five key concepts that forms the foundation of marketing:
- The production concept
- The product concept
- The selling concept
- The marketing concept
- The societal marketing concept
Since we already looked at the production, product and selling concepts, let’s look at the remaining two.
The societal marketing concept takes the marketing concept further and is increasingly becoming the concept of choice when devising a marketing strategy.
This concept emphasizes focusing on meeting customers’ needs to solve their problems while ensuring no harm comes to them.
Also, one of the marketing concepts is “the marketing concept”. While the selling concept is all about what the company wants or needs, the marketing concept focuses on the customer.
If you’ve hung out in marketing groups or social media pages online like Facebook or Twitter, you’ll have heard discussions about concentrating on solving a customer’s problem to build a sustainable business.
Brands that utilize the marketing concept spend time getting to know their customer’s likes and dislikes. They understand what problems keep their customers awake at night and develop products and services to solve those issues.
This is the approach you’ll see small businesses take. While they can’t compete on scale or price with more prominent brands, they can, through a deep understanding of their customer, fill the gaps in the market and meet a particular demand.
In summary, the Societal concept emphasizes focusing on meeting customers’ needs to solve their problems while ensuring no harm comes to them, while the marketing concept focuses on the customer.
Evaluation
What are marketing concepts?
Reading Assignment
Explain the difference between marketing and societal concepts.
Weekend Assignment
Give three examples each of businesses utilizing the concepts learned in today’s class.
We hope you enjoyed today’s class. In our next class, we will be learning about Business Management.
Let us know your thoughts and questions in the comment section, and we will attend to them as fast as we can.
For more class notes, homework help, exam practice, download our App HEREJoin ClassNotes.ng Telegram Community for exclusive content and support HERE