Every company can have various concepts or ideology. For instance, a particular company can have its idea or ideology that if the manufacturing is done on a large scale, the price would be much less and the product would certainly be sold immediately.
This way, such a company will focus mainly on the big range production of goods. In a similar way, other firm could have a different suggestion. It could have a suggestion that if the top quality of the product is enhanced, there will be no trouble in selling the item.
Under the advertising and marketing management philosophy, we shall research the following 5 principles:
( 1) Production Principle
( 2) Item Concept
( 3) Marketing Idea
( 4) Marketing Principle
( 5) Societal Marketing Idea
1. Manufacturing Concept
Those firms who rely on this approach assume that if the goods/services are cheap and they can be made available at several locations, there could not be any kind of trouble pertaining to sale.
Keeping in mind the very same ideology these firms put in all their advertising initiatives in lowering the expense of manufacturing as well as reinforcing their distribution system. In order to decrease the cost of production as well as to bring it down to the minimum level, these business enjoy big range production.
This helps them essentially the economics of the big scale production. Consequently, the cost of manufacturing per unit is lowered.
The utility of this ideology is apparent just when demand goes beyond supply. Its biggest drawback is that it is not always essential that the client whenever purchases the quickly readily available as well as cheap services or products.
2. Product Idea
Those business that rely on this ideology believe that if the high quality of products or solutions is of good standard, the consumers can be easily brought in. The basis of this thinking is that the consumers obtain attracted in the direction of the products of good quality. On the basis of this approach or idea these business direct their advertising and marketing efforts to boosting the quality of their item.
It is a firm idea of the fans of the product idea that the customers obtain drawn in to the items of good quality. Because it is not the only basis of purchasing products, this is not the absolute truth.
The clients do care for the price of the products, its availability, and so on. A high quality item and high price can upset the spending plan of a customer. It can be said that just the top quality of the product is not the only way to the success of marketing.
3. Offering Concept
Those companies who believe in this idea think that laying off the consumers will certainly not aid. Rather there is a need to bring in the consumers to them. They think that items are not bought but they have to be offered.
The basis of this thinking is that the clients can be drawn in. Keeping in view this concept these companies focus their advertising efforts to enlightening as well as bring in the customers. In such an instance their main thinking is ‘offering what you have’.
This concept provides the idea that by repeated efforts one could sell-anything to the consumers. This might be right for a long time, but you could refrain it for a veteran. He can not be won over every time if you succeed in tempting the consumer once.
On the other hand, he will work for destructive your credibility. For that reason, it can be asserted that this viewpoint supplies only a short-term benefit and also is except lasting gains.
4. Advertising Principle
Those companies who rely on this concept believe that success can be attained only with consumer fulfillment. The basis of this reasoning is that just those goods/service must be made available which the customers want or need as well as not things which you can do.
In other words, they do not sell exactly what they can make yet they make exactly what they can offer. Keeping in mind this concept, these companies route their advertising and marketing efforts to accomplish customer contentment.
In other words, it can be said that it is a contemporary principle and also by adopting it revenue can be earned on a long-term basis. The drawback of this idea is that no attention is paid to social welfare.
5. Societal Advertising Concept
This idea worries not just the consumer fulfillment however additionally gives value to Customer Welfare/Societal Welfare. This idea is practically an action further than the advertising principle. Under this concept, it is believed that simple contentment of the consumers would not help as well as the welfare of the whole culture needs to be remembered.
If a firm produces a car which consumes less petrol yet spreads out pollution, it will certainly result in only consumer satisfaction and not the social well-being.
Primarily two elements are consisted of under social welfare-high-level of human life and pollution complimentary atmosphere. The firms thinking in this idea guide all their advertising and marketing efforts to the success of customer fulfillment and also social well-being.
In short, it can be said that this is the most up to date concept of advertising and marketing. The companies adopting this concept could attain lasting earnings.