Company Orientation Toward the Marketplace Assignment Help
Different Marketing Concepts under Company Orientation toward the Marketplace
Company Orientation toward the Marketplace means the ways company will be targeting new markets and existing markets. This is done to retain the market share and to explore new methods to improve market share.
The different Company Orientation toward the Marketplace concepts
Selling concept: This means that customers should be persuaded to buy a product by persuasion and they will not purchase if they are not persuaded. Insurance companies use this concept to market their products and to ensure sales.
Product concept: The concept is useful for technical and electronic gadgets. This means that people will purchase mobile electronic products that are latest in technology and they would always change their mobile sets for latest technologies.
Marketing concept: A company will have made an interesting product, and it will sell only if the demand of consumers met. A company will understand the demand of consumer using this concept and would create a product based on that demand.
Societal marketing concept: This means that a company is dedicated to the society it lives in and would do something good for the society from the profit it earns. It can mean building homes for those who have lost it during floods or earthquakes or through other natural disasters. It would mean investing in a school that lacks basic facilities. It will also mean investing in health sectors and helping society cope with good health. Some companies ensure that they invest heavily in an environment and plant trees.
Production concept: A company will follow the same set of production without being concerned about consumer demand.
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