Question

Mention/state the five philosophies, by which the marketing efforts be guided. Also differentiate between them on the following basis.
`(i)` Starting point `(ii)` Means
`(iii)` Main focus `(iv)` Ends

Answer 1

Marketing philosophies are :
`(i)` Production concept
`(ii)` Product concept
`(iii)` Selling concept
`(iv)` Marketing concept
`(v)` Societal marketing concept

BASIS FOR COMPARISON	PRODUCT CONCEPT	PRODUCTION CONCEPT
Meaning	Product Concept is a marketing philosophy which assumes that customers admire quality-rich products, with advanced features.	Production Concept is an approach which believes that customers are willing to buy the products which are easily available at low prices.
Means	Improvement in product over time	Improvement in the production efficiency and distribution coverage.
Objective	To provide better quality products to the customers.	To achieve the economies of scale.
Emphasis on	Product	Production