The diagram in the concept map presented in this paper creates a representation of a full analysis of the basic concepts of marketing. Marketing pretty much refers to the essence of communication one’s value to other potential buyers or consumers(Day, 1963). As the diagram illustrates five branches of marketing concepts exist each having specific elements. In order for there to be communication of value, there must first be an existence of a business entity doing the marketing. The market, which is made up of consumers, is another essential part of the model. It makes up the consumers who have needs for the goods and services offered by the business entities. Those in the market sector form customer relationships, and enhance networking as they engage in their escapades of buying from the ones doing the marketing. Each of the five marketing concepts has their own elements and these are as following:
The production concept- this concept maintains that the consumers are attracted to products that are affordable and easy to access it is characterized by easy accessibility to products in the market, and low prices.
The product concept- this concept states that customers go for products with innovative features, are of best quality and have a high performance. The elements include: products with better quality, performance and innovative features as well as low and affordable prices as well as availability of goods and services.
The selling concept- this concept asserts that organizations must aggressively sell and promote their products for consumers to buy its elements include; low prices, availability of products, good and services, quality performance and innovation, aggression in selling and promoting products.
The marketing concept- this concept deals with organizations setting up goals to deliver and satisfy the needs and wants of different target markets. The elements here include; market integration, satisfying consumer needs, paying attention to the target markets , selling and promoting products, ensuring availability of products, maintaining high performance and innovative features in products and increased efforts in selling and promotion.
Societal marketing concept- this concept states that an organization should be able to improve a society’s and consumer wellbeing in its efforts to satisfy the needs and wants of a target market. Essentially making sure that the market to which the business is pitching their ideas, products, services and goods should be adequately taken care of not just in terms of what is being produced by the organization, but also in a matter of pricing with regard to economic states.
In addition to these concepts, there are other minor concepts that stem from the side of the consumer-those receiving the marketing. These include; Needs which are those things that are essential for survival such as food, water shelter, and clothing. Wants; this refers to the intense desire to acquire any goods and/or services, Demand; these are the amounts of goods and services that individuals are willing to purchase at different prices in order to satisfy their specific needs and wants. Finally, there are Services, which refer to the actions that individuals may take part in, in order to satisfy other people’s needs. Examples of services include; medical services, financial services, traveling services, and things like recreational services(Burnett, 2008).
REFERENCES
Burnett, J. (2008). Core Concepts of Marketing. The Global Text Project, funded by the Jacobs Foundation, Zurich, Switzerland.
Day, R. L. (1963). Emerging Concepts in Marketing. Journal of Marketing (Pre-1986), 1.
