The Changing Face of Marketing Concept – Evolution of Marketing

The Changing Face of Marketing Concept: Evolution of Marketing

Hive Studio The Prime Mirror you through the history of marketing and how it has evolved into what it is today. It all started with the Production Concept – this is when managers believed consumers liked inexpensive products and they could increase profits by decreasing manufacturing costs through mass production and distribution.

This was followed by the Sales Concept – this is when managers realized that consumers are more interested in product benefits and attributes than price. They began to focus on improving and modifying the product to meet consumer needs. Then came the Customer-Oriented Marketing Concept – this is when businesses realized they need to identify and understand customers’ needs, wants, and expectations. They then need to produce products that are a fit for those needs and do it better than the competition – this is where true differentiation lies.

“From Product-Centric to Customer-Centric: The Evolution of Marketing Concepts

Then comes the Relationship Marketing Concept – this is where companies start to focus on building strong and loyal customer relationships to increase their profits over the long term. They then focus on aligning all functions of their business to deliver a consistent experience to their customers that makes them come back time and again.

And finally there’s the Societal Marketing Concept – this is where marketers realize they have a responsibility to their community, environment and society at large and should make decisions that reflect this. They need to ensure that they are providing their customers with the best possible quality of life and that their products do not harm people or their surroundings.