UNIT I

INTRODUTION TO MARKETING
QUESTION BANK

TWO MARKS
1. Define Marketing.

Kotler’s Definition- According to Kotler has defined marketing as a social and

managerial process by which individuals and groups obtain what need and want through
creating, offering and exchanging products of value with others.
2. Who are marketers?
A marketer is someone seeking a resource from someone else and willing to offer
something of value in exchange. The marketer is seeking a response from the other party,
either to sell something or to buy something. Marketer can be a seller or a buyer.
3. Define marketing management.
Marketing Management is the process of planning and executing the conception, pricing,
promotion, and distribution of ideas, goods, and services to create exchanges that satisfy
individual and organizational objectives.
This definition recognizes that marketing management is a process involving analysis,
planning, implementation, and control; that it covers ideas, goods and services; that it
rests on the notion of exchange; and that the goal is to produce satisfaction for the parties
involved.
4. Explain the concepts “Needs, Wants, Demands”.
NEEDS
A human need is a state of felt deprivation of some basic satisfaction. People require foods,
clothing, shelter, safety, belonging, esteem etc. these needs exist in the very nature of human
beings.
WANTS
Human wants are desires for specific satisfiers of these needs. For example, cloth is a need but
Raymonds suiting may be wanted. While people’s needs are few, their wants are many.
DEMANDS
Demands are wants for specific products that are backed up by an ability and willingness to buy
them. Wants become demands when backed up by purchasing power.

5. What is market?
A market consists of all the existing and potential consumers sharing a particular need
or want who might be willing and able to engage in exchange to satisfy that need or
want.
6. Define marketing mix.
Marketing mix is a selection of marketing tools that include several areas of focus that can be
combined to create a comprehensive plan. The term refers to a classification that began as the
4 P’s: product, price, placement, and promotion, and has been expanded to
Product
Price
Promotion
Place
People
Packaging, and
Process
7. What are all the new realities in market?
Technology
Globalization
Social Responsibility
Changing Channels
Heightened Competition
8. What are the types of needs? Give suitable examples.
Stated
Stated Needs are the ones which are specified clearly by the customer or the market. They are
also the expected needs for a particular product or service. These needs are at the most basic
level without which the need cannot be qualified. e.g. I need food to eat and I feel like having
a sandwich.
Real
Real needs are at one level above the stated needs and put a boundary on the above. Real
needs define the parameter which are immediate to defining and fulfilling the need. e.g. I
need a cheese sandwich at affordable price.
Unstated
Unstated needs are which are not obvious but are expected by the customer. These are the
needs which can be used to differentiate by the companies while designing the products to
fulfil the needs of the customer. e.g. I need basic vegetables to be added as part of my
sandwich. It should not be just a single slice cheese plain sandwich.
Delight
Delight needs are the needs which provide the 'wow' factor. These needs like unstated needs
can make some products more popular than the other if they meet these needs. e.g. The
quality of the cheese used to be the best one with special sauce but still the price of the
sandwich would be below 2$.
Secret
These are the needs which a customer might not state or realize but can be one of the main
reasons for choosing a particular product to fulfil the basic stated need. e.g. I need this
sandwich to quickly eat my food and look cool.
 9. What is meant by holistic marketing?
Holistic marketing concept considers all the different parts of a business as one single
entity. It is based on the premise that the whole is greater than the sum of its parts. As
such, there is a shared aim and purpose for all the activities related to a business. This
ensures that each person in every department, from sales to operations to HR to marketing
and others, work towards one common goal.
10. List the concepts in holistic marketing.
Relationship Marketing
Integrated marketing
Internal Marketing
Performance Marketing
Societal Marketing
11. Define niche marketing.
Niche marketing is a form of marketing geared towards targeting a specific audience,
united by needs, preferences, and identity. In the simplest sense, niche marketing is a
specific portion of the market's demographics and target audience.
For example, in the marketplace of shoes, there can be different segments attached to the
same. For example, shoes for casual wear, shoes for the office, shoes for women, shoes for
men, or shoes for parties.
12. What is meant by market segmentation?
Market segmentation is a marketing strategy that uses well-defined criteria to divide a
brand's total addressable market share into smaller groups. Each group, or segment, shares
common characteristics that enable the brand to create focused and targeted products,
offers and experiences.
13. What are the different dimensions of holistic marketing?
There are three essential features of holistic marketing - first, a common objective;
second, aligned activities and lastly, integrated activities.
14. What is marketed?
Goods
Services
Events
Experiences
Persons
Places
Properties
Organizations
Information
Ideas
15. Explain the key consumer markets.
Consumer Markets
Companies selling mass consumer goods and services, establish a strong brand image by
developing a superior product or service, ensuring its availability, and backing it with
engaging communications and reliable performance.

Business Markets
Companies selling business goods and services often face well-informed professional buyers
skilled at evaluating competitive offerings.
Global Markets
Companies in the global marketplace navigate cultural, language, legal, and political
differences while deciding which countries to enter, how to enter each, how to adapt product
and service features to each country, how to set prices, and how to communicate in different
cultures.
Nonprofit and Governmental Markets
Companies selling to non-profit organizations with limited purchasing power such as
churches, universities, charitable organizations, and government agencies need to price
carefully.
Much government purchasing requires bids; buyers often focus on practical solutions and
favour the lowest bid, other things equal.
16. Define the terms value and Satisfaction.

 Value is primarily a combination of quality,  Satisfaction reflects a person’s judgment of a

service, and price (QSP), called the customer product’s perceived performance in
value triad. relationship to expectations.
 Value perceptions increase with quality and  If performance falls short of expectations, →
service but decrease with price. the customer is disappointed.
 We can think of marketing as the  If it matches expectations, → the customer is
identification, creation, communication, satisfied. If it exceeds them, → the
delivery, and monitoring of customer value. customer is delighted.

17. Define strategic alliances

Just doing business in another country may require the firm to license its product, form a joint
venture with a local firm, or buy from local suppliers to meet “domestic content”
requirements. Many firms have developed global strategic networks, and victory is going to
those who build the better one. Many strategic partnerships take the form of marketing
alliances.
These fall into 4 major categories.
1. Product or service alliances: One company license another to produce its product, or two
companies jointly market their complementary products or a new product.
2. Promotional alliances: One company agrees to carry a promotion for another company’s
product or service.
3. Logistics alliances: One company offers logistical services for another company’s product.
4. Pricing collaborations: One or more companies join in a special pricing collaboration.
Well-managed alliances allow companies to obtain a greater sales impact at lower cost.
Rather than just form a partnership, a firm may choose to just acquire another firm.

18. Define SWOT Analysis.

The overall evaluation of a company’s strengths, weaknesses, opportunities, and threats.
It’s a way of monitoring the external and internal marketing environment.
16 MARKS
1. Explain marketing mix elements with examples.
The marketing mix, also known as the four P's of marketing, refers to the four key elements
of a marketing strategy: product, price, place and promotion. By paying attention to the
following four components of the marketing mix, a business can maximize its chances of a
product being recognized and bought by customers:
Product. The item or service being sold must satisfy a consumer's need or desire.
Price. An item should be sold at the right price for consumer expectations, neither too low nor
too high.
Promotion. The public needs to be informed about the product and its features to understand
how it fills their needs or desires.
Place. The location where the product can be purchased is important for optimizing sales.
Product
Products are commodities and services that solve problems and satisfy the needs of
consumers. A product can be tangible, such as a vehicle or a piece of clothing, or intangible,
such as a cruise or house cleaning service. A successful product either fills a void in the
marketplace or offers a unique experience that spikes demand.
Example. Before the iPhone was launched, most consumers did not realize the need for a
phone that would let them access everything at their fingertips. The way Apple marketed its
product compelled people to simplify their lives by carrying a smartphone that could also
serve as a GPS, calendar, search engine, flashlight, weather guide and calculator.
Price
Price is the cost of the product that the consumer pays. During product marketing, it is
important to set a price that reflects the current market trends and is affordable for consumers,
yet at the same time is profitable for the business. Price can fluctuate based on the supply and
demand and the product's sales cycle. While some businesses might lower the price to
compete with the market, others might inflate it -- especially if they are promoting a luxury
brand.
Example. Price points play a vital role in making a product successful. For example, if a
product is overpriced, only a few consumers will purchase it. Conversely, a product that is
priced too low can give consumers an impression of inferior quality, thus preventing them
from purchasing it.
Place
This is where and how the product or service is purchased by the customers. It also entails
where the product is stored and manufactured. Digital transformation has evolved how
products are sold -- online, small local shops or global producers. This marketing plan also
considers where the product is advertised and in which format, such as magazines, online ads,
radio, infomercials or film product placements.
Example. The place is where the product is marketed and distributed from. For example,
when targeting a product to seniors, it would be wise to not market it on TikTok. Similarly,
products targeting the younger generations would gain more attention if they were promoted
online and on social media platforms.
Promotion
Promotion refers to reaching the target audience with the right message at the right time. It
gets the word out and is an effective way to conduct a sales promotion and connect with
consumers. A promotional strategy aims to show consumers why they would need a certain
product and the reasons for buying it over other products. The core of marketing
communications, product promotions push out specific and meaningful advertising through
popular channels: word-of-mouth seeding, social networking, Instagram campaigns, print
marketing, television commercials, email marketing campaigns, social media marketing and
more.
Example. Timing can play an influential role in promotional marketing. Take, for example,
the football season during which pizza delivery deals are targeted during games. This entices
consumers to try new products they may not have enjoyed otherwise.
2. Discuss the core marketing concepts.
(1) NEED/ WANT/ DEMAND:
Need: It is a state of deprivation of some basic satisfaction. eg.- food, clothing, safety, shelter.
Want: Desire for specific satisfier of need. eg.- Indians needs food – wants paneer tikka/
tandoori chicken. Americans need food- wants hamburger/ French fries.
Demand: Want for a specific product backed up by ability and willingness to buy. eg.- Need –
transportation.
States of “DEMAND” could be:
Negative demand – Major market dislikes product, hence try to avoid. eg.- injections.
No Demand – Constant unaware and uninterested in the product. eg.- segway.
Latent Demand – Need exists, not fulfilled by current products. eg.- ATM, mobile.
Declining demand – Demand decreases over a period of time. eg.- pagers, scooters.
Irregular Demand – Seasonally. eg. fans, raincoat.
Full Demand – Good volume of business. eg.- toothpaste, most FMCG items.
Overfull Demand – Demand greater than the ability to handle. eg.- VSNL sim card.
Unwholesome Demand – Unwholesome product. eg.- cigarettes, narcotic drugs.
Clarifying, Consumer may want – Car (say, Mercedes) but able to buy only Volvo. Therefore,
demand is for Volvo.
Marketers cannot create needs. Needs pre-exists. Marketers can influence wants. This is done
in combination with societal influencers.
(2) PRODUCTS- GOODS/ SERVICES/ PLACE.
Product is anything that can satisfy need/ want.
Product component-
Physical Good.
Service.
Idea.
eg. Fast-food- burger/ pizza.
Physical Good – material eaten.
Service – purchase of raw material/ cooking
Idea – the speed of computer/ processing power.
Importance of product lies in – Owning them (minor); Obtaining them (major). Hence,
products are really a via- media for services. Hence, in marketing, the focus is on providing/
satisfying service rather than providing products.
Marketing Myopia: Focus on products rather than on customer needs

(3) VALUE/ COST/ SATISFACTION:

The decision for purchase made based on value/ cost satisfaction delivered by product/
offering.
The product fulfils/ satisfies Need/ Want.
Value is products capacity to satisfy needs/ wants as per consumer’s perception or estimation.
Each product would have a cost/ price elements attached to it.
Eg. – Travel from city A to city B.
Need – to reach B (from A)
Method/ Products- Rail/ air/ road or train/ plane.
Satisfaction – Estimated in terms of time lead & travel comfort.
VALUE– Products capacity to satisfy.
COST– Price of each product.
(4) EXCHANGE/ TRANSACTION:
To satisfy need/ want, people may obtain the product through
 Self-Production
 By force or coercion
 Begging
 Exchange
EXCHANGE: – The act/ process of obtaining a desired product from someone by offering
something in return. For exchange potential to exist, the following conditions must be
fulfilled.
There must be at least two parties.
Each party has something of value for other parties.
Each party is capable of communication & delivery
Each party is free to accept/ reject the exchange offer.
Each party believes it is appropriate to deal with the other party.
TRANSACTION: – Event that happens at the end of an exchange. Exchange is a process
towards an agreement. When an agreement is reached, we say a transaction has taken place.
a) Barter transaction.
b) Monetary Transaction.
At least two things of value.
Condition agreed upon.
Time of agreement.
Place of agreement.
May have a legal system for compliance.
Proof of transaction is BILL/ INVOICE.
TRANSFER: – It is one way. Hence, differ from Transaction.
NEGOTIATION: – Process of trying to arrive at mutually agreeable terms.
Negotiation may lead to
Transaction
The decision not to Transaction
(5) RELATIONSHIP/ NETWORKING:
Relationship marketing: - It’s a pattern of building long term satisfying relationship with
customers, suppliers, distributors in order to retain their long term performances and
business.
Achieved through promise and delivery of
 high quality
 good service
 fair pricing, over a period of time.
The outcome of Relationship Marketing is a MARKETING NETWORK.
MARKETING NETWORK: It is made up of the company and its customers, employees,
suppliers, distributors, advertisement agencies, retailers, research & development with whom
it has built a mutually profitable business relationship.
Competition is between the whole network for market share and NOT between companies
alone.
(6) MARKET:
A market consists of all potential customers sharing particular need/ want who may be willing
and able to engage in exchange to satisfy need/ want.
Market Size = fn (Number of people who have need/ want; have resources that interest
others, willing or able to offer these resources in exchange for what they want).
In Marketing terms: Sellers – called as “INDUSTRY”.
Buyers – referred to in a group as “MARKET”.
Types of Markets:
 Resource Market,
 Manufacturing Market,
 Intermediary Market,
 Consumer Market,
 Government market.
(7) PAID, OWNED, AND EARNED MEDIA
The rise of digital media gives marketers a host of new ways to interact with consumers and
customers. -
Paid media allow marketers to show their ad or brand for a fee, include TV, magazine and
display ads, paid search, and sponsorships. - -
Owned media are communication channels marketers actually own, like a company or brand
brochure, Web site, blog,
Facebook page, or Twitter account.
Earned media are streams in which consumers, the press, or other outsiders voluntarily
communicate something about the brand via word of mouth, buzz, or viral marketing
methods.
The emergence of earned media has allowed some companies to reduce paid media
expenditures.
(7) IMPRESSIONS AND ENGAGEMENT
Marketers now think of three “screens” or means to reach consumers: TV, Internet, and
mobile.
Surprisingly, the rise of digital options did not reduce the amount of TV viewing, in part
because 3 of 5 consumers use two screens at once.
Impressions, which occur when consumers view a communication, are a useful metric for
tracking the scope or breadth of a communication’s reach that can also be compared across all
communication types.
The downside is that impressions don’t provide any insight into the results of viewing the
communication.
Engagement is the extent of a customer’s attention and active involvement with a
communication.
It reflects a much more active response than a mere impression and is more likely to create
value for the firm.
3. Elaborate the new marketing realities in detail.
The marketplace is dramatically different from even 10 years ago, with new marketing
behaviours, opportunities, and challenges emerging.
1. TECHNOLOGY
With the rapid rise of e-commerce, the mobile Internet, and Web penetration in emerging
markets, the Boston Consulting Group believes brand marketers must enhance their “digital
balance sheets.”
Massive amounts of information and data about almost everything are now available to
consumers and marketers. Even traditional marketing activities are profoundly affected by
technology.
2. GLOBALIZATION
The world has become a smaller place. New transportation, shipping, and communication
technologies have made it easier for us to know the rest of the world, to travel, to buy and sell
anywhere.
By 2025, annual consumption in emerging markets will total $30 trillion and contribute more
than 70 percent of global GDP growth.
A staggering 56 percent of global financial services consumption is forecast to come from
emerging markets by 2050, up from 18 percent in 2010.
Demographic trends favor developing markets such as India, Pakistan, and Egypt, with
populations whose median age is below 25.
In terms of growth of the middle class, defined as earning more than $3,000 per year, the
Philippines, China, and Peru are the three fastest-growing countries.
Globalization has made countries increasingly multicultural.
Globalization changes innovation and product development as companies take ideas and
lessons from one country and apply them to another.
3. SOCIAL RESPONSIBILITY
Poverty, pollution, water shortages, climate change, wars, and wealth concentration demand
our attention.
The private sector is taking some responsibility for improving living conditions, and firms all
over the world have elevated the role of corporate social responsibility.
The organization’s task is to determine the needs, wants, and interests of target markets and
satisfy them more effectively and efficiently than competitors, while preserving or enhancing
consumers’ and society’s long-term well-being.
As goods become more commoditized and consumers grow more socially conscious, some
companies incorporate social responsibility as a way to differentiate themselves from
competitors, build consumer preference, and achieve notable sales and profit gains.
4. A DRAMATICALLY CHANGED MARKETPLACE
These 3 forces (technology, globalization, and social responsibility) have strongly changed
the marketplace, bringing consumers and companies new capabilities.
The marketplace is also being transformed by changes in channel structure and heightened
competition.
5. NEW CONSUMER CAPABILITIES
Social media is an explosive worldwide phenomenon. Empowerment is not just about
technology, though.
Consumers are willing to move to another brand if they think they are not being treated right
or do not like what they are seeing.
Expanded information, communication, and mobility enable customers to make better
choices and share their preferences and opinions with others around the world.
 Consumers can use the internet as a powerful information and purchasing aid
 Consumers can search, communicate, and purchase on the move
 Consumers can tap into social media to share opinions and express loyalty
 Consumers can actively interact with companies
 Consumers can reject marketing they find inappropriate
6. NEW COMPANY CAPABILITIES
  Companies can use the internet as a powerful information and sales channel,
including for individually differentiated goods
 Companies can collect fuller and richer information about markets, customers,
prospects, and competitors
 Companies can reach customers quickly and efficiently via social media and mobile
marketing, sending targeted ads, coupons, and information
 Companies can improve purchasing, recruiting, training, and internal and external
communications
 Companies can improve cost efficiency
7. CHANGING CHANNELS
One of the reasons consumers have more choices is that channels of distribution have
changed as a result of retail transformation and disintermediation. -
Retail transformation → Store-based retailers face competition from catalogue houses; direct-
mail firms; newspaper, magazine, and TV direct-to customer ads; home shopping TV; and e-
commerce.
In response, entrepreneurial retailers are building entertainment into their stores with coffee
bars, demonstrations, and performances, marketing an “experience” rather than a product
assortment. -
Disintermediation → Early dot-coms such as Amazon.com, E*TRADE, and others
successfully created disintermediation in the delivery of products and services by intervening
in the traditional flow of goods.
In response, traditional companies engaged in reintermediation and became “brick-and-click”
retailers, adding online services to their offerings.
Some with plentiful resources and established brand names became stronger contenders than
pure-click firms.
8. HEIGHTENED COMPETITION
The rise of private labels and mega-brands and a trend toward deregulation and privatization
have also increased competition. -
Private labels → Brand manufacturers are further buffeted by powerful retailers that market
their own store brands, increasingly
indistinguishable from any other type of brand. - - -
Mega-brands → Many strong brands have become mega-brands and extended into related
product categories, including new opportunities at the intersection of two or more industries.
Deregulation → Many countries have deregulated industries to create greater competition
and growth opportunities.
Privatization → Many countries have converted public companies to private ownership and
management to increase their efficiency
4. What are all the marketing management tasks in detail.
Develop marketing strategies and plans
The first and foremost tasks of marketing are to develop marketing strategies and plans. They
consist of following tasks:
Determining the strategies consist of identifying the marketing objectives or goals of the
organization, their determination, and modification as well as determination of specific
resources to achieve objectives or goals set. They are concerned with product, price, channel,
promotion, competitors, etc.
Marketing plans involve mangers by which the marketing goals can be achieved. They
involve deciding policy, strategy, tactics, procedures, rules and regulations and marketing
programs, budgets and schedules to achieve the long-term as well as short-term goals.
Marketing strategies and plans allocate economic, physical and managerial resources of the
organization for future. They assess and analyse strength and weakness, opportunities and
threats (SWOT).
2. Creating marketing information system
It is concerned with understanding what is happening inside and outside the company. Simply
there are four components of marketing information. They are Internal Record System,
Marketing Intelligence System, Marketing Research and Decision Support System.
3. Build customer relationship
Marketing needs to build customer relationship. Building customer relationship is a very
effective way to increase satisfaction and sustain in market. The relationships can be built by
using the emerging concepts such as relationship marketing and customer relationship
management.
4. Build strong brands
Marketing needs to build strong brand. It is also a major task of marketing. Strong brand
helps in promotion, value creating, image development, product positioning, brand loyalty
and expansion of product lines.
5. Determine marketing mix
Marketing needs to create and determine and effective marketing mix to satisfy needs of
target markets. It is the combination of four inputs such as the product, the price, the place
and the promotional activities. Different marketing mix is essential for different groups of
customers.
6. Deliver value
Marketing needs to deliver value to the target customers. Value is the ratio between what the
customers pay and what they receive. Marketing must determine how to properly deliver the
value embodied by the products and services to the target market. Customers’ product choice
is guided by value. So, marketing should add maximum value to the customers.
7. Communicate value
Marketing needs to communicate value to target markets. It has to develop an integrated
marketing communication program that maximizes the individual and collective contribution
of all communication activities by which firm attempts to inform, persuade, remain and
reassure consumers about the brands. For this, marketing has to set up mass communication
programs consisting of advertising, personal selling, sales promotion, public relations and
publicity.
8. Create long-term growth
Marketing must take a long-term view of its products and brands and how its profits should
be grown. Based on its positioning, it must initiate new-product development, testing and
launching.

9. Implementation and control

Marketing must organize its marketing resources and implement and control the marketing
plans. It must build a marketing organization that is capable of implementing marketing plans
and strategies. Similarly, it must find out any deviations between achieved performances
against planned or budgeted performance using predetermined standards. It provides
feedback about marketing planning and strategies.
5. Elaborate the holistic marketing concept and its types.
Holistic marketing is a business marketing philosophy which considers business and all its
parts as one single entity and gives a shared purpose to every activity and person related to
that business.
A business is just like a human body: it has different parts, but it’s only able to function
properly when all those parts work together towards the same objective. Holistic marketing
concept enforces this interrelatedness and believes that a broad and integrated perspective is
essential to attain best results.
Relationship Marketing
The relationship marketing aspect of holistic marketing philosophy focuses on a long-term
customer relationship and engagement rather than short-term goals like customer acquisition
and individual sales. This strategy focuses on targeting marketing activities on existing
customers to create a strong, emotional, and everlasting customer connection. These
connections further help the business in getting repeated sales, free word of mouth marketing
and more leads.
Integrated Marketing
Integrated marketing is an approach to create a unified and seamless experience for the
consumer to interact with the brand by designing and directing all communication
(advertising, sales promotion, direct marketing, public relations, and digital marketing) in
such a way so that all work together as a unified force and centres around a strong and
focused brand image.
Internal Marketing
There are two types of customers to every business: internal and external. While focusing on
external customers should be a top priority for every business, internal customers should not
be left unnoticed as these internal customers (employees) play a vital role in marketing the
brand and products to the external customers of the business.
Internal Marketing treats employees and staffs as internal customers who must be convinced
of a company’s vision and worth just as aggressively as external customers. It also involves
crafting processes which make them understand their role in the marketing process.
Socially responsible marketing
The socially responsible marketing aspect of the holistic marketing concept involves a
broader concern of the society at large. It requires the business to follow certain business
ethics and focuses on partnerships with philanthropic and community organisations. A
business is considered as a part of the society and is required to repay the same. Socially
responsible marketing encourages a positive impact on company’s stakeholders.
6. Explain the marketing concepts.
The Product Concept
The product concept is the opposite of the production concept in that it assumes that
availability and price don’t have a role in customer buying habits and that people generally
prefer quality, innovation, and performance over low cost. Thus, this marketing strategy
focuses on continuous product improvement and innovation.
Apple Inc. is a prime example of this concept in action. Its target audience always eagerly
anticipates the company’s new releases. Even though there are off-brand products that
perform many of the same functions for a lower price, many folks will not compromise just
to save money.
Working on this principle alone, however, a marketer could fail to attract those who are also
motivated by availability and price.
The Selling Concept
Marketing on the selling concept entails a focus on getting the consumer to the actual
transaction without regard for the customer’s needs or the product quality — a costly tactic.
This concept frequently excludes customer satisfaction efforts and doesn’t usually lead to
repeat purchases.
The selling concept is centered on the belief that you must convince a customer to buy a
product through aggressive marketing of the benefits of the product or service because it isn’t
a necessity. An example is soda pop. Ever wonder why you continue to see ads for Coca Cola
despite the prevalence of the brand? Everyone knows what Coke has to offer, but it’s widely
known that soda lacks nutrients and is bad for your health. Coca Cola knows this, and that’s
why they spend astonishing amounts of money pushing their product.
The Marketing Concept
The marketing concept is based on increasing a company’s ability to compete and achieve
maximum profits by marketing the ways in which it offers better value to customers than its
competitors. It’s all about knowing the target market, sensing its needs, and meeting them
most effectively. Many refer to this as the “customer-first approach.”
Glossier is a recognizable example of this marketing concept. The company understands that
many women are unhappy with the way that makeup affects the health of their skin. They
also noticed that women are fed up with being told what makeup products to use. With this in
mind, Glossier introduced a line of skincare and makeup products that not only nourish the
skin but are also easy to use and promote individualism and personal expression with
makeup.
The Societal Concept
The societal marketing concept is an emerging one that emphasizes the welfare of society. It’s
based on the idea that marketers have a moral responsibility to market conscientiously to
promote what’s good for people over what people may want, regardless of a company’s sales
goals. Employees of a company live in the societies they market to, and they should advertise
with the best interests of their local community in mind.
The fast-food industry is an example of what the societal concept aims to address. There’s a
high societal demand for fast food, but this food is high in fat and sugar and contributes to
excess waste. Even though the industry is answering the desires of the modern consumer, it’s
hurting our health and detracting from our society’s goal of environmental sustainability.