Marketing Management - Sample Assignment

Added on - 21 Feb 2021

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Marketing Management
Table of ContentsINTRODUCTION...........................................................................................................................1MAIN BODY...................................................................................................................................1Critical review of marketing philosophies and concepts.............................................................1REFERENCES................................................................................................................................3
INTRODUCTIONThe concept and philosophy of marketing is one of the simplest ideas in marketing and atthe same time one of the most important marketing belief. The present report includes theaspects of promotion concepts which has various factors like product, product, selling, marketingorientation and holistic advertising concepts which can improve the efficiency and effectivenessof the business. Along with this it also shows contemporary marketing concept that helps intargetting the market and deliver high quality products.MAIN BODYCritical review of marketing philosophies and conceptsThe marketing concept is the philosophy that companies are required to analyse as theircustomers' requirements changes and then make a decision to meet those desire better than theircompetitors(Marketing concept and philosophy, 2019).Production:As per the view ofChernev (2018)the production concept focuses on product availabilityand affordability. If these two elements are in marketing, the business will succeed.Therefore,marketing must try to reduce production costs and focus on mass production and distribution.The positive aspect of this approach is that high production leads to improve the marketing ofcustomer satisfaction, increasing the profitability. On the negative side, over production maylead to reduction in product prices.Product:Villeneuve and Pasquier (2017),stated that The product philosophy states thatorganizations know their products better than others or any organization.Companies know whatworks and what doesn't work in product development and production. For example, companiescan decide to highlight low prices or high quality of their products. If a good quality product isbeen promoted, it increases the sales count of the firm. However, if the product is of poorquality, the brand equity and promotional set up is affected in a negative way.Selling:As per the view ofShaw(2016), the sales philosophy is that businesses which can sellwhatever products they make using marketing techniques such as advertising and personal sales.Organizations can form marketing departments that deal with the sale of goods and focusorganizations to produce goods.On the positive side, selling value added product on a reasonable1
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