Marketing and Selling concept, Principles of Marketing Video Lecture | Principles of Marketing - B Com

today we will be discussing selling
concept versus marketing concept my name
is Wei Lu this is marketing 330 selling
a marketing concept differ in many ways
with selling concept there's inward
focus on business as opposed to an
outward focus on customers with
marketing concepts selling concept
defines business is by goods and
services while marketing concept defines
businesses by benefits for customers
selling concept is targeted at everybody
and the average consumer while marketing
concept is targeted to a specific group
of consumers there is profitability
through sales volume and it is less
favorable and competitive environment
while marketing concept has more
profitability through customer
satisfaction is more favorable in a
competitive environment companies
usually use selling concept convert
products into cash they emphasize the
sale of the product already used they
have a fragmented approach to selling
there is a buyer beware principle
followed and cost determines price with
marketing concept converting customers
need into product is a must there is
emphasis on product planning and
development there is an integrated
approach to marketing seller beware
principles are followed and customers
determine the price price determines the
cost
companies that use a selling concept
approach focus on the sellers needs
holds customers and businesses at a
priority manufacture the products first
and they are more sales volume oriented
with a marketing concept approach they
focus on the customers needs
they hold customers and businesses a
priority as well they identify the
customer first and there is customer
satisfaction with a profit oriented
mindset companies that use a selling
concepts strategy profit through sales
volume their planning is short-term
oriented and they aim for customers
satisfaction before company's profit
when using a marketing concept they are
customers supreme they prompt it through
customer satisfaction planning is
long-term oriented and they aim at
customers as profit targets
some examples include insurance
encyclopedias online shopping
door-to-door selling
while companies that are market oriented
are companies such as Dell computers
automobile industries designer clothes
successful selling oriented companies
such as Geico used more brand characters
at one time and any other company in the
history of marketing they included
memorable ad starting their gecko
cavemen and the googly eyed pile of cash
presently Geico has no fewer than six
different ad campaigns running each with
their own unique tone style flavor and
message however marketing oriented
companies such as Nike was co-founded by
entrepreneur Phil Knight and track and
field coach Bill Bowerman back in 1964
as Blue Ribbon sports Nike boasted
athletic booths right from the get-go
the company didn't make a big leap until
it took advantage of the jogging and
fitness craze that swept the country in
the late 1980s this has been Wagyu with
another message in marketing and thank
you for stopping by at marketing 330