THE EVOLUTION OF

MARKETING CONCEPTS:
- Lakshmanan r (119055)
- M Vikas (119056)
- Madhav Menon (119057)
- Mahesh Zawar(119058)
- Manish Rane(119059)
- Manisha Malik(119060)
- Manoj Kumar Moga (119061)
- Bhanu Prakash (119062)
- Mohamed Aasiqi (119063)
- Mridul Malik (119064)
WHAT IS EVOLUTION OF MARKETING?
Marketing evolution refers to the distinct phases that businesses have
gone through as they continued to seek new and innovative ways to
achieve, maintain and increase revenue through customer sales and
partnerships. Since the 1900s, a variety of different strategies have
been employed as various industries created and refined their
marketing approaches.
Evolution Process and Stages involved in
the Marketing Evolution
 PRODUCTION CONCEPT(1860- 1920)
• A company adopting the production concept is of the view that they
can increase demand for their product by reducing cost.
• The idea is the more your goods are affordable, the more people will
want to buy them.
• To decrease cost, in most cases, you’ll need to produce on the large-
scale.
• By mass-producing your product, your company will attempt to reduce
the cost per unit and benefit from economies of scale.
• The production concept is a concept leading you to think strategically
about your production and operations.
• RESULTS:
Manufacturers believed that customers would seek out and buy
reasonably priced products, which are easily available, so they focused
on increasing the output. This led to the industrial revolution. At this
stage, the demand for goods generally exceeded the supply and the
companies found little problem in getting customers. Hence, they
focused mainly on improving production and distribution efficiency.
Advantages:
• The production concept forces your company to find ways to produce more for
less.
• Companies will look at optimizing their operations and logistics in such a way
that they can reduce their overall cost per unit and offer their products in a
more affordable way to their customers.
• Achieving economies of scale is an important advantage of the production
concept.
• A company that believes they could produce more of equal quality for less can
certainly offer value to their customers.
• The advantage for your customers is that they can find your products
anywhere and in an affordable way.
• Your customers will not need to go out of their way to find what you are
selling.
Examples of production concept:
One notorious example of the successful implementation of the
production concept is when Ford Motor Company started producing its
cars on a large scale.Ford reckoned that the more he produces his cars,
the more people will buy him.At the beginning of the twentieth
century, his assessment was spot on.The more he produced, the more
people bought.There was so much demand for cars and so little supply
that the mere increase in production, more optimized distribution and
economies of scale lead the Ford Motor Company to become one of
the most successful companies in history.
 PRODUCT CONCEPT (1920-1930)
Product Concept states that customers or consumers prefer product
which is of the highest quality, performance and features. Product
concept is a mandatory concept in order to give the best possible
product to the customer as per the demand and expectation. A product
is not complete in itself and requires other factors of business like
marketing, distribution, sales, service etc. to be successful.Using
Product concept, a company can give identity to the product and can
add functional value and usability so that the intended customers can
derive this benefit and eventually buy the product in the market.
Advantages:
• Innovation is more using Product Concept as the companies vouch to
make better products leading to innovations and inventions which is
good for everyone

• Quality is the central focus of this concept which fulfills the needs and
wants of the customer at the same time

• It raises the overall bench mark of the offerings in the market as

competitors also try to come to the same level as the innovator which
tries to give the best product
Disadvantages:
• Leads to expensive products for basic needs as all manufacturers try
to give best possible product to the customer even though the
demand can be fulfilled

• Customers need supports, service along with a product, so just

focusing only on product features can lead to not providing the
holistic customer experience.
Example of Product Concept:
Apple is one company which works highly on product concept to get
the best products to their consumers. Apple's products are perceived to
be very high quality with innovative features and great performance.
Customers go after the products of Apple and that creates a marketing
pull.
MARKETING CONCEPT(1950-NOW)
• 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.”
• The Marketing Concept is preoccupied with the idea of satisfying
the needs of the customer by means of the product as a solution to
the customer's problem (needs). The Marketing Concept represents
the major change in today's company orientation that provides the
foundation to achieve competitive advantage.
The concept of marketing accordingly depends on three
key perspectives:
• What is the target market – The first step is to focus precisely which the
object market is. This can be achieved by market research and choosing
which, the target business sector, will give the best returns.
• What are the needs as well as the demands of the target market – A
further venture in market research is the ‘buyer preference’ study. This
study will help the firm to focus on the needs and demands of the target
market, consequently helping the firm in choosing their policies.
• How better would we be able to convey a value proposition – In this
step, the firm will decide on the policies that it would adopt. What sort of
quality the firm would create and convey? In what capacity would it be
advisable for the firm to incorporate its distinctive offices? Eventually, the
firm chooses how to apply the concept of marketing to convey a better
consumer experience.
ADVANTAGES:
• Generation of employment opportunities
• Awareness and acknowledge of consumer and social well-being
• Increased Quality of Production
• Creates an environment for healthy competition
• Career in marketing
• Increases consumer status
• Focus on the scientific frame of thought
EXAMPLE:
Let us look at the example of 2 interminable opponents – Pepsi and Coke – Both of
these organizations sell the same products. However, the value proposal displayed by
both is diverse. These organizations flourish with the concept of marketing. Where
Pepsi concentrates on youths, Coke conveys on a comprehensive methodology.
Additionally, the quality suggestion by Coke has been exceptional over ages as
contrasted with Pepsi, which demonstrates that coke particularly flourishes with the
advertising idea, i.e. it conveys a better value recommendation as contrasted with its
rival.
The concept of marketing additionally demands that the vital choices made by the
organization are taken by having the customer in mind and in particular the
demands and needs of the customers. An all encompassing methodology is brought
to the entire association striving to greatly improve the situation. Applying the
concept of marketing additionally means recognizing what the business sector needs
and anticipates from the organization as a consequence of which organizations which
applies the concept of marketing need to perform more market research.
• As we are eventually fulfilling the consumer, the concept of
marketing likewise stresses that the association coordinates all
its distinctive departments to offer value to the consumer. This
implies that all the departments including Operations, Finance,
HR or Marketing ought to have an idea of the center aims of the
organization and in addition the objective of the organization.