Concepts of Marketing
Marketing in general terms refers to the buying and selling of goods, but in the present time it is used in a broader sense. It includes both the pre- and post-purchase activities. According to some scholars, in addition to buying and selling in marketing, social responsibility is also included. Thus there is a difference of opinion regarding the meaning of marketing. There is no universally accepted definition of it.
Various Concepts of Marketing
The various concepts are divided into the following parts-
1. Concept of Utilities Creation The proponent of this key concept of marketing is Richard Vuskirk. Some scholars have described marketing as a creative activity. He is of the opinion that marketing is a system through which value addition is made. Some definitions related to this ideology are given as follows:
Pro. According to Richard Waskic, marketing is a system that creates value in goods by creation of form, place, time and possession utility. Pro. In the words of Converse Hughie and Mitchell, “Marketing is that part of economics which deals with the study of space, time and authority utility”.
In fact it is found to be true that marketing activities make goods more valuable than before by creating utility, but this definition focuses on only one action and on other activities; For example, does not pay attention to social responsibility etc. That is why this definition is not considered good. Thus, according to the utility creation concept or ideology, every such activity by which the utility and value of goods is increased, is included under marketing.
2. Concept to Distribution of Goods The main supporter of this concept of marketing is the American Marketing Association. According to this concept or ideology, marketing includes all those processes that are done to get the goods or services from its production to the consumer or user, such as transportation, storage, category division etc. Under the definitions related to distribution of goods are taken those whose relation is to help in getting the goods from production to the consumer. Some definitions related to this are as follows (1) According to the American Marketing Association, “Marketing refers to the performance of business activities that carry out the flow of goods and services from production to consumer.”
(2) According to Tousley, Clark and Clark, “Marketing refers to those activities and efforts which are helpful in the transfer of ownership and physical distribution of goods and services.”
All the definitions with the above ideology were considered valid and good for a long time, but today their usefulness has diminished in the scientific and progressive marketing system. The reason for this is that there is no mention of after-sales services in these definitions. At the same time, no importance or place has been given to social responsibility in this.
3. Concept of Standard of Living The credit for this concept of marketing is given to Paul Mazur. According to this concept, marketing includes all those activities which help in providing the best quality of goods to the consumers. Some scholars have linked marketing with activities related to providing standard of living. They say that the producer increases the use of new goods by producing them and this leads to a higher standard of living of the society. It contains the following definitions
Pro. According to Paul Mazur, “Marketing means providing a standard of living to the society.” According to Malcolm McNair, “Marketing refers to creating and achieving a creative standard of living. ,
On the basis of above definitions it can be said that marketing is a complete activity. Among the many important functions of marketing, pricing is also a part of it. This concept of marketing is also called customer oriented or new concept or modern concept, because under this, more priority and recognition has been given to the customer than the product. Therefore, before manufacturing the product, the wants and needs of the customers are studied and after that the goods are manufactured and made available to the consumers.
4. Concept Related to System The main proponent of this concept of marketing was William J. Stanton (William J. Stanton). According to this concept marketing is as a system in which one influences the other. It includes those activities which are related to each other and the followers of this ideology say that marketing is a complete system of a business in which all business activities are included. Some of the definitions related to this approach are as follows:
Pro. According to Staunton, “Marketing refers to the whole system of interactive business activities that are carried out to plan, price, promote and distribute goods and services to present and potential customers to satisfy their needs. Is.” According to Dr. Caddick and Still, “Marketing is that managerial activity by which markets are
Products are made according to the needs and their ownership is transferred. It is clear from the above definitions that all business activities are included in marketing under this ideology. It has an important place in marketing.
5. Concept Related to Consumer’s Satisfaction Various scholars are of the opinion that consumer’s satisfaction is the cornerstone of marketing. This is because the consumer is the king of the market. Therein lies the universality. Some of the definitions related to consumer satisfaction are as follows:
Pro. According to McCarthy, “Marketing is the answer given by the traders to the need to adjust the production plans according to the needs of the consumer demands. According to Dr. Philip Kotler, “Marketing is the set of human activities that complete and direct the exchange.”
The above definitions are related to modern ideology. Accordingly, the production is done according to the consumers. For this, the interest and habit of the consumers are ascertained. It is also found in this that the producer gets the profit only after the satisfaction of the consumers.