Introduction to Marketing Concepts

Marketing strategy should deliver value to the customers in a way that maintains or improves both consumer and society well-being.

The selling concept focuses on selling products that are widely available and inexpensive, while the marketing concept focuses on delivering value to customers in terms of quality, performance, or innovative features.

Consumers (want satisfaction), Company (Profits), Society (Human Welfare)

<p>Digitalization, Globalization, Ethics and Social Responsibility, Not-for-profit marketing</p> Signup and view all the answers

<p>Digitalization refers to the integration of digital technologies in marketing strategies and practices to reach and engage with customers.</p> Signup and view all the answers

<p>Globalization requires businesses to adapt their marketing strategies to reach a worldwide audience and consider cultural differences.</p> Signup and view all the answers

<p>Ethics and social responsibility ensure that businesses operate in a transparent and socially conscious manner, which helps build trust with consumers.</p> Signup and view all the answers

<p>Not-for-profit marketing focuses on promoting causes, raising awareness, and attracting support for non-profit organizations or social initiatives.</p> Signup and view all the answers

<p>The marketing concept in the 21st century places greater emphasis on customer value, societal well-being, and ethical considerations, in addition to profits.</p> Signup and view all the answers

<p>Good marketing decisions consider consumers' wants, the company's long-term investments, and society's long-term interests, aligning with the societal marketing concept.</p> Signup and view all the answers