Match List - I with List - II. Choose the correct answer from the options given below :List - I
(Concept)List - II
(Description) A. Marketing Concept I. Qualitative, performing and innovative products B. Selling Concept II. Large-scale sales and promotion effort C. Production Concept III. Customer focus and values D. Product Concept IV. Available and affordable products
A-III, B-II, C-IV, D-I
The correct matching is A-III, B-II, C-IV, D-I — option 4.
The five philosophies of marketing management, in the order they historically emerged :
| Concept | Assumption about buyers | Focus | Description here |
|---|---|---|---|
| C. Production concept | Consumers favour products that are widely available and affordable | Efficiency, cost, mass distribution | IV |
| D. Product concept | Consumers favour products of the highest quality, performance and innovation | Continuous product improvement | I |
| B. Selling concept | Consumers will not buy enough unless the firm mounts a large-scale selling and promotion effort | Pushing what the firm makes | II |
| A. Marketing concept | The key is to determine the needs and wants of target markets and satisfy them better than rivals | Customer focus and value | III |
| Societal marketing concept | Add the long-run welfare of consumers and of society | Company profit, consumer wants, public interest | — |
The fundamental contrast. The first three all start inside the firm; the marketing concept starts outside it :
| Selling concept | Marketing concept | |
|---|---|---|
| Starting point | The factory | The target market |
| Focus | Existing products | Customer needs |
| Means | Selling and promoting | Integrated marketing |
| Ends | Profit through volume | Profit through customer satisfaction |
Levitt’s formulation is the classic statement of it: selling is preoccupied with the seller’s need to convert his product into cash; marketing with the buyer’s need to be satisfied. His paper “Marketing Myopia” argued that firms fail when they define themselves by their product rather than by the need they serve — the railways declining because they thought they were in the railway business rather than the transport business.
The product concept has its own trap, sometimes called the better mousetrap fallacy: a superior product does not sell itself if buyers do not know of it, cannot obtain it, or wanted something different in the first place.
Hence, the answer is A-III, B-II, C-IV, D-I.
Similar Questions
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Reasoning (R) : Organizations recognize that little of their market value comes from intangible assets.
Code :
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Important Questions from Marketing: Concept and approaches
Arrange the following stages in the marketing process of an enterprise:
A. Marketing Mix
B. Marketing program implementation
C. Marketing planning
D. Market research
E. Control and evaluation of marketing programs
Choose thecorrectanswer from the options given below:
Which of the following is the characteristic of a product?
Which of the following is an example of durable goods?
Traditionally, marketing has been viewed as:
_______ is making it more a challenge today than ever before, to upgrade customer services to get an edge over the competitiors.
