Critical Review of Marketing Concepts and Philosophies

This report provides a critical review of various marketing philosophies and concepts. It begins by introducing the core idea of marketing and its significance in business. The main body delves into the critical analysis of several marketing philosophies, including production, product, selling, marketing orientation, and holistic marketing. Each concept is examined, highlighting its key aspects, potential benefits, and drawbacks. The report also explores the contemporary societal marketing concept, emphasizing its focus on consumer well-being and societal impact. The analysis incorporates insights from various sources, including books and journals, to provide a comprehensive understanding of how these marketing approaches influence business operations. The report concludes by summarizing the impact of these marketing philosophies on a business's marketing strategies and overall performance.

Marketing Management

Table of Contents
INTRODUCTION...........................................................................................................................1
MAIN BODY...................................................................................................................................1
Critical review of marketing philosophies and concepts.............................................................1
REFERENCES................................................................................................................................3

INTRODUCTION
The concept and philosophy of marketing is one of the simplest ideas in marketing and at
the same time one of the most important marketing belief. The present report includes the
aspects of promotion concepts which has various factors like product, product, selling, marketing
orientation and holistic advertising concepts which can improve the efficiency and effectiveness
of the business. Along with this it also shows contemporary marketing concept that helps in
targetting the market and deliver high quality products.
MAIN BODY
Critical review of marketing philosophies and concepts
The marketing concept is the philosophy that companies are required to analyse as their
customers' requirements changes and then make a decision to meet those desire better than their
competitors (Marketing concept and philosophy, 2019).
Production:
As per the view of Chernev (2018) the production concept focuses on product availability
and 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 of
customer satisfaction, increasing the profitability. On the negative side, over production may
lead to reduction in product prices.
Product:
Villeneuve and Pasquier (2017), stated that The product philosophy states that
organizations know their products better than others or any organization. Companies know what
works and what doesn't work in product development and production. For example, companies
can decide to highlight low prices or high quality of their products. If a good quality product is
been promoted, it increases the sales count of the firm. However, if the product is of poor
quality, the brand equity and promotional set up is affected in a negative way.
Selling:
As per the view of Shaw (2016), the sales philosophy is that businesses which can sell
whatever 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 focus
organizations to produce goods. On the positive side, selling value added product on a reasonable
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price tag is beneficial for the organisation however failing to follow this approach may have
negative concepts as it xcan reduce the sales and revenue.
Marketing orientation:
It can be termed as the process within an busienss to identify the needs or requirements of
organisation while creating the products to satisfy them (Kotler and et.al., 2018). The findings of
Chernev (2018) elucidates that, marketing orientaion apprach helps the organsation to improve
the strategies to increase the customer satisfaction level by offering their desired product or
service. However, the research of Olson and et.al. (2018) , suggests that designing and
developing process is a very time and resource consuming process that can affect the
performance of enterprise.
Holistic marketing concept:
This is a extensive practice of developing designing and implementing the marketing of
promotional measures and ideas which will increase the interrelatedness among the processes
and people involved in business. The findings of Shaw (2016). indicates that this will improve
the communication and sharing of data resources, improving the market performance of
enterprise. Although, the statements of Chonko and Hunt (2018) contradicts to the fact. Its states
that holistic marketing is a very time and effort demanding measure which can have a negative
impact on the market operations of the firm.
Societal marketing concept:
It is the promotional practice which focuses on the target market and deliver the high
value based products in comparison to its competitors. The findings of Villeneuve and Pasquier,
(2017) indicates that it emphesis on well being of consumers and society as whole. In
contradiction to it, this is a time consuming approach as it requires an extensive market research
to identify the customer's needs and develop the value based products accordingly. The negative
impact can be the behavioural or perspective change of the customers. The need of the customer
can be vary with the change in time so it can affect the business after analysing customer's needs.
CONCLUSION
From the above report it had been summarized that various marketing philosophies and
concepts that are applied within an enterprise affect its marketing operations in a significant
manner. The concepts or philosophies of marketing including production, selling, product,
marketing orientation and holistic marketing along with the contemporary marketing concept
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like societal marketing is critically reviewed. All these measures improve the understanding
related to marketing approaches which are followed.
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REFERENCES
Books and Journals
Chernev, A., 2018. Strategic marketing management. Cerebellum Press.
Chonko, L.B. and Hunt, S.D., 2018. Reflections on ethical issues in marketing management: An
empirical examination. Journal of Global Scholars of Marketing Science, 28(1), pp.86-95.
Kotler, P. and et.al., 2018. Marketing management: an Asian perspective. Pearson.
Olson, E.M. and et.al. 2018. The application of human resource management policies within the
marketing organization: The impact on business and marketing strategy
implementation. Industrial Marketing Management, 69, pp.62-73.
Shaw, S., 2016. Airline marketing and management. Routledge.
Villeneuve, J.P. and Pasquier, M., 2017. Marketing management and communications in the
public sector. Routledge.
Online
Marketing concept and philosophy. 2019.[Online]. Available through :
<https://www.referenceforbusiness.com/management/Mar-No/Marketing-Concept-and-
Philosophy.html>.
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