Insurance companies follow the selling concept by assuming that it’s good for everyone and everybody should buy insurance. Advantages and Disadvantages of Marketing 3 Replies “Marketing” is defined by Wikipedia as “the process by which companies create customer interest in goods or services… through which companies build strong customer relationships and creates value for their customers and for themselves.” Start with a marketing plan – identifying the customer and their needs and wants. During the period of WW2, the industry was producing machine guns, weapons, and other wartime equipment. I have an essay of Advance Marketing course. Hence for example, if the customer wants a good quality camera mobile but company tries to sell to that customer mobile having many features but the camera of that mobile is of inferior quality than as far a customer is concerned he or she will be disappointed after purchasing the mobile from the company. The customers would forget their buying experience even if they don’t like the product. Companies sell whatever they produce rather than providing customers what they want. The production concept is the oldest of those concepts and is often favored as a business strategy in emerging markets and in developing nations. If the business environment is competitive, then this marketing concept would be less favorable. Management Audit Advantages and Disadvantages, Difference between Current Account Deficit and Trade Deficit, Advantages and Disadvantages of Cost Leadership. Some of the disadvantages of the selling concept are as follows; One of the drawbacks of this concept is that it avoids the need and wants and focus remains on the sales of products and services. Under this concept of marketing company does not take into account the feedback of consumers which is very important because the task of the company does not end with selling products to the consumers rather it is a continuous process as one unsatisfied consumer will give negative mouth publicity to 10 other consumers which in turn is not good for reputation or goodwill of the company. The advantages of selling your products in online marketplaces Your customers and sales could multiply in swathes . Some of the main characteristics of the selling concept are as follows; Some of the main characteristics of the marketing concept are as follows; Some of the main advantages of the selling concept are as follows; This type of marketing philosophy helps companies to increase their sales volume. The encyclopedia includes basic information about everything. In case of small kids majority of parents say that their kids love to eat pizza, burgers and other fast food items but when it comes to eating green vegetables they are fussy and parents have to force them to eat the food. It can work only for certain items like funeral planners, encyclopedia, insurance, and door to door selling items. Some of the main advantages of the selling concept are as follows; Increase in Sales. Disadvantages of Selling Concept . Customers have inner needs and your job is to convert their inner needs into buying your product through motivation and persuasion. If the companies do not follow this concept, then customers’ minds will never change, and they will always buy established brands. That’s how the profession of sales and marketing emerged. As the sale of your business increases, the profitability would increase. Companies sell whatever they produce rather than providing customers what they want. Your business would profitable if your products have satisfied the needs and want of customers. Advantages of Selling Concept. This concept follows the integrated approach. In order to understand this concept better one should look at the advantages and disadvantages of selling concept of marketing –. Answer (1 of 1): The market concept is the idea that companies and firms should analyze their target audience and change their products to suit their target customers' needs better than that of their competitor. If you're currently in that decision process, here are the advantages and disadvantages of selling online and hustling your way to the center of the market. Where the customer is the boss, and he would define the price, and the price would define cost. The competing concepts under which organizations have conducted marketing activities include: the Production concept, Product concept, Selling concept, Marketing concept, and Holistic Marketing concept. Advantages and Disadvantages of Marketing 3 Replies “Marketing” is defined by Wikipedia as “the process by which companies create customer interest in goods or services… through which companies build strong customer relationships and creates value for their customers and for themselves.” Start with a marketing plan – identifying the customer and their needs and wants. This mentality requires that businesses stress sales pitching and proactive customer service among personnel so as to ensure that there is maximum closing power in the corporate environment. Consequently, the supplies exceeded the demand in the market. This selling technique is termed as Features, Advantages, Benefits Selling (also known as FABS). – Sales Vs Marketing Vs Business Development Explained, Product Concept – Definition, Examples, Pros, & …, Selling Concept – Definition, Examples, Pros & …. It focuses on the short-term goals and objectives of the company, and that is to finish the stock. Selling Process . Businesses and companies have created separate sales departments and started hiring sales personals. Product concept of marketing refers to that concept which believes that customers will prefer those products which have superior quality and features than competitors products even if it involves customer paying more price for the company's product. If the business environment is competitive, then you should follow the marketing concept because it would be favorable in such an environment. Selling concept is the idea that consumers are not liable to make the leap on their own to purchase goods and services. The first and foremost advantage of this concept of marketing is that it helps the company in increasing the sales of the company because the majority of markets all over the world are highly competitive and if the company does nothing to pursue the customers for buying the company’s products then the company will never be able to survive. In case of marketing similar concept is there which is called selling concept of marketing, it refers to that marketing concept according to which company assumes that consumers do not buy the all the products of the company voluntarily rather for some products company has to aggressively persuade customers to buy the company’s product. The marketing concept states that the character of the marketing orientated organisation, whether product or service based, profit or non-profit based, is the identification and true delivery of consumers’ needs and wants, more effectively and efficiently than the competition. Markets are competitive everywhere, and if the companies are unable to pursue customers for their products and services, then it will be difficult for the businesses to survive. Here are a few of them: Costly and time consuming. *Response times vary by subject and question complexity. Automobiles, Dell Computers, and designer clothes are some of the main examples of the marketing concept. The production concept is used along with four other marketplace concepts to guide organizational activities; these orientations include product, selling, marketing and social marketing concepts. Advantages: Easy to use Matches Cost to revenues (Matching Concept) Disadvantages: Depreciation can not be charged when the Asset is not in use. They follow the sale concept that their product would be the need of everyone and they try to convince everyone. The selling concept works under the poor assumption that the consumers will not purchase enough of the company’s products unless large-scale promotional and selling effort has been made. The final goal is to sell many products, to increase the net profit. It starts with …, What is Sales? Since the companies try to target the majority of customers in the market, it is understandable that the products would be visible to these targeted people. The selling concept is based on the premise that the customers won’t buy goods/services of your brand unless you perform sales and promotional activities at a large scale. The concept is applicable where you price your product based on the cost. The idea behind selling concept of marketing is to sell whatever company produces which in turn results in short term gains for the company but as far as long term is concerned company will find it difficult to survive as customers can be fooled one or two time but in the long term customer will purchase that product which gives them maximum value for their money. Today, we’ll discuss the sales or selling concept and how it’s different from the marketing concept. Instead of focusing on everyone, the marketing concept focuses only on a specific segment of the market.
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