‘Bending the customer according to the Product’ and ‘Developing the product according to customer-needs’ are the two important concepts of marketing management. Identify the concepts and differentiate between the two.
(i) ‘Bending the customer according to the product.’ – This statement is related with selling concept.
(ii) ‘Developing the product according to customer needs.’ – This statement is related with marketing concept.
Following are the main differences:
|
Basis of Difference |
Selling Concept |
Marketing Concept |
|
1. Starting Point |
Factory. |
Market. |
|
2. Main Focus |
Attracting consumers. |
Consumer satisfaction. |
|
3. Means |
Advertising, personal selling and sales promotion. |
Various marketing activities. |
|
4. Ends |
Profit through maximum sales. |
Profit through consumer satisfaction. |
Explain briefly the various marketing functions performed by a modern business enterprise.
Or
Explain various functions of marketing.
Define Marketing. Explain its features.
Explain ‘Market Planning’ and ‘Product Designing and Development’ as functions of marketing.
What is meant by the 'Product Concept’of marketing?
