Tactful Management Case Study

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Research Journal (Dec ; 2014)

Munaga Ramakrishna Mohan Rao “MARKETING PHILOSOPHIES ” Tactful Management

Tactful Management Research Journal

KEYWORDS:

Marketing, Philosophies, Production, Product, Selling, Marketing, Societal

INTRODUCTION:

Every company can have different ideas or philosophy. For example, a particular company can have its idea or philosophy that if the production is done on a large scale, the cost would be less and the product would be sold automatically.

In this way, such a company will concentrate mainly on the large scale production of goods.

Similarly, some other company can have a different idea. It may have an idea that if the quality of the product is improved, there will be no difficulty

One of the many stories about Henry Ford illustrates the classic example of the product philosophy in use after the Industrial Revolution. Henry Ford pioneered mass production techniques in the automobile industry. With the techniques, he offered cars at affordable prices to the general public. Before this time, cars were handmade, and only the very wealthy could afford them. The public enthusiastically purchased all the Model TFords that the company could produce. The evidence that the product philosophy was alive and well in Ford Motor Company came in Henry Ford's famous reaction to consumer requests for more color options. He was said to have responded that "you can have any color car you want as long as it is black." Realizing that different colors would increase the cost of production and price of the Model T's,

Henry Ford, using the product philosophy, decided that lower prices were best for the public.

3. Selling Concept

Those companies who believe in this concept think that leaving alone the customers will not help.

Instead there is a need to attract the customers towards them. They think that goods are not bought but they have to be sold.

The basis of this thinking is that the customers can be attracted. Keeping in view this concept

Marketing Concept

Those companies who believe in this concept are of the opinion that success can be achieved only

MARKETING PHILOSOPHIES

Tactful Management Research Journal | Volume 3 | Issue 3 | Dec 2014

2through consumer satisfaction. The basis of this thinking is that only those goods/service should be made available which the consumers want or desire and not the things which you can do.

In other words, they do not sell what they can make but they make what they can sell. Keeping in mind this idea, these companies direct their marketing efforts to achieve consumer satisfaction.

In short, it can be said that it is a modern concept and by adopting it profit can be earned on a longterm basis. The drawback of this concept is that no attention is paid to social welfare.

Wal-Mart's motto of "satisfaction guaranteed" is an example of the marketing concept. Whether the Wal-Mart employee is an accountant or a cashier, the customer is always first. In simple terms, "the customer is king".

5. Societal Marketing Concept

This concept stresses not only the customer satisfaction but also gives importance to Consumer

Welfare/Societal Welfare. This concept is almost a step further than the marketing concept. Under