Marketing Principles Essay Example | Topics and Well Written Essays - 1000 words

Marketing Principles - Essay Example relationships with customers and other stakeholders, at a profit, so that the objectives of the partners involved are met; and this is achieved by a mutual exchange and fulfilment of promises (Brodie 1997, 384).† Organizations have long been conducting their marketing activities according to five marketing concepts or philosophies: the production concept, the product concept, the selling concept, the marketing concept, and the societal marketing concept. Although all these concepts refer to how organizations maintain their relationships with consumers in order to make a profit, these concepts differ in terms of where to put the emphasis in terms of making decisions in relation to its marketing activities. The oldest of these philosophies is the production concept. When the industrial revolution has started, businesses during those times decide on their marketing activities on the basis of the production abilities of the company. The central decision of a production-oriented company is on its operations: given the resources that the company has access to, what products can it produce (Bliemel 1979)? This has been the case of Pillsbury company from its formation in the 1800s until the 1930s. Charles A. Pillsbury has started Pillsbury by taking advantage of two abundant raw materials during his days—the abundance of wheat, and the water power (Keith 1960). Water power, during those days has been used to provide power to milling machineries (Keith 1960). The decision to manufacture flour has been driven by these two factors—major inputs of production. Without any regard to the demand side of the business, the focus of has been on the companys capability to manufacture, in this case, Pillsbury has exhibited the production concept (Ke ith 1960). If the production concept focuses on the companys ability to manufacture a product, the product concept is about a companys focus on its products and improving them, perfecting them in order to have the highest quality