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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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:
_______ believes that the consumers will favour those products that offer the best quality, performance and features and therefore the organisation should devote its energy to making continuous product improvements.
The ability to change human needs into wants is called
Which of the following is the characteristic of a product?
Which of the following is an example of durable goods?
