Marketing Strategy | Marketing Concepts | Marketing Environment | Lecture 2 Video Lecture | Understand Marketing Strategy: Grow your Business - Sales

my friends let's continue with the
chapter we have five marketing concepts
under which organizations conduct their
marketing activities production concept
and product concept and we have three
more production concept is the quick it
concentrates on improving production
greater quantities without loss of
quality now this is something very
similar to we creating a recipe in a
hotel like for example if you go to a
place and you like and on three each
time you try it out it it should remain
the same now this is a truly good
production example because you were
replicating the same quality the same
taste the same presentation again and
again and again it should not be
different okay so that is quality
control and production concept is all
about maintaining quality regardless of
the numbers of products produced okay
and make the product widely available to
consumers this is another good example
is for example any famous retail market
retail store if you go to one retail
store you would find the same product in
the other hotel retail store okay and
product concept is concentrate on
producing products that offer the
highest quality reliability and
performance products image must reflect
value for example quality quality and
status for example Porsche
Rolex and cos here okay these are
quality products and the concept
products are those specified products
that do not minimize on quality we don't
cut our corners and they are not worried
about reducing or lowering prices okay
so price is not an issue here the
priority is given to the quality of the
product the lifelong use of the product
and the resistance to wear and tear so a
good example of product concept is all
the high-end retail products for example
you know the exam
right here and you can think of more
examples any kind of designer coats
banks shoes or even designer you know
scarves all of these things they fall
under the product concept now an
important thing here is that what people
are trying to do here is they are trying
to create another niche and this in this
niche what they're trying to do is they
are trying to lower their cost while
still maintaining quality and very few
brands are able to do that Walmart is
one of them it has lower crop prices but
the quality is not compromised we will
find out more about Walmart and its
business practice in the upcoming
lectures the third marketing concept is
selling concept since people are
employed to push the products as
consumers buyers and buyers do not go
out looking for all products instead
salespeople persuade them to buy for
example perfume demonstrations so this
is the selling concept and you need to
remember this because what happens is
that sometimes you know when a new
product is launched people go out of
their stores and they are you know
trying to stop passers-by to have them
try out their products it's a very
common trend nowadays that for example
if it's a bakery store one of the store
attendants would be outside offering
free baked goods for people to try out
and then come inside and buy more so
this is the selling concept and it's
called pushing the product at the
customer is to encourage them to like
the product and buy it marketing concept
it is essential to find out what target
market needs and wants and then produce
products for these needs and wants
better than the competitors for example
iPhone development is based on research
and many other products which are which
are economic in nature
which means that they are you know they
are designed around the human comfort
level so it's like a human comfort zone
design in bridge products they are very
easy for human beings to adopt and use
that on daily basis and and you know
perform repeat purchases so marketing
concept is all about you know developing
a product based on what the consumer
wants and this means that trying to get
to know what the consumers are saying
and this happens usually with the aid of
surveys and even you know having
testimonials and many methods we'll find
out in the upcoming lectures then you
have the last one here the society of
concept
it's the organization's determine the
needs and wants of target markets then
they deliver the desired products and
services more effectively and
efficiently than competitors in a way
and that improves societal well-being
for example this is all about you know
environmental goodness environmental
values demonstrated by a company masaf
II water bottles recycled and boxes made
of recycled material hairsprays should
be pumps and it should not be aerosols
and there's so many concepts that
minimize the harm be placed on the
planet and they the companies they are
actually being very mindful of these
activities and what they want to do is
they want to make sure that whatever
they come up with has an environmental
friendly factor associated with it so
that their business practices is known
as safe and not harmful but promotes
better planet health and this is a
societal concept many people are
nowadays very very planet conscious
carbon-footprint-conscious and what they
want to do is they want to with so many
competitors out there they
would choose a product or service that
has an environmental value many people
are moving towards products and services
that are helping the planet so because
they people consumers now want to feel
less guilty about their you know
lifestyle habits that contribute towards
the detrimental carbon footprint and by
investing in products that are said to
be environmentally friendly they want to
want to reduce that guilt factor of
harming the planet then you have to
lease marketing environment Marketing
has changed dramatically over the past
100 years we live in a consumer driven
society we spend our money more freely
because with credit cards and e-commerce
it is very easy to do ok so I mean if
there's a lot of difference between
opening up your wallet and taking out a
couple of dollars and it's much easier
to pay online believe me the hesitation
and is far more greater during the
physical act of parting with your money
than with the e-commerce environment
where you just enter your numbers and
then you make a payment so you need to
make sure that your product and your
service is definitely a part of any
commerce environment ecommerce is
changing the way we choose products and
has made all markets global marketers
are having to develop a whole new
strategy because of e-commerce so which
is what I just said that when you have a
product or service you have to make sure
in today's marketing environment that
you have an online presence for that
product and you are able to sell it
online as well ok which means that you
have to have the entire payment gateway
and everything set up so please be very
of that ok what has changed we need and
want goods or services that our
parents and parents may never have known
okay and this is for the past you know
five or six seven dec decades many
things have changed how many watches do
you have we have one that's you know
sensible one that's fashionable one
that's sporty and then so many mobile
phones you know we just want to follow
the trend we ditch the old ones as soon
as the new ones come well okay not every
year but at least two years or three
years we have this feeling of being
up-to-date technology wires televisions
now I mean nowadays televisions are very
common cars you know even having driving
a particular car and a model is in
fashion designer clothes shoes clothes
and bags I mean you it's it's it's been
crazy the past ten years the way you
know shoes floats and bags are available
and vacations
these are the changes that have taken
place and that we need to understand why
these changes have taken place and how
is technology based marketing bringing
about such drastic changes in our
purchase habits okay so what our company
is doing to bring - to increase our Abid
I'd for products and services what are
these companies doing that it seems to
be really working well and that's what
you're going to find out in this course
and hopefully adopt for your own
business so that you have a good chunk
of a market let me end this lecture here
and up next I'm going to continue with
the chapter and shed some light on a few
more concepts I'll see you shortly
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