What is modern marketing concept how differ from earlier concept

In the business glossary, you might have encountered the terms marketing concept and selling concept end number of times. The marketing concept concentrates on the buyers needs and

What is modern marketing concept how differ from earlier concept
marketing vs selling concept

In the business glossary, you might have encountered the terms marketing concept and selling concept end number of times. The marketing concept concentrates on the buyers needs and then the means are identified to meet out those needs. Therefore, the customer is regarded as the king of the market. On the other hand, selling concept stresses on the needs of the seller and so, it is the seller who rules the market.

These two are the most misconstrued however there exists a fine line of difference between marketing and selling concept, that lies in their meaning, process, activities, management, outlook and similar other factors. With this article, an attempt is made to shed light on all the substantial points that differentiate the two, take a read.

Content: Marketing Concept Vs Selling Concept

  1. Comparison Chart
  2. Definition
  3. Key Differences
  4. Conclusion

Comparison ChartBasis for ComparisonSelling ConceptMarketing ConceptMeaningSelling concept is a business notion, which states that if consumers and businesses remain unattended, then there will not be ample sale of organization's product.Marketing concept is a business orientation which talks about accomplishing organizational goals by becoming better than others in providing customer satisfaction.Associated withCompelling consumer's mind towards goods and services.Directing goods and services towards consumer's mind.Starting pointFactoryTarget MarketFocuses onProductCustomer needsPerspectiveInside-outOutside-inEssenceTransfer of title and possessionSatisfaction of consumersBusiness PlanningShort termLong termOrientationVolume orientedProfit orientedMeansHeavy selling and promotionIntegrated marketingPriceCost of ProductionMarket determined

Definition of Marketing Concept

The marketing concept is a business idea, which states that the companys success lies in becoming more effective than the rivals, in producing, delivering and communicating greater customer value to the target market.

It relies on four elements, i.e. target market, integrated marketing, customer needs and profitability. The concept begins with the specific market, stresses on customer needs, coordinates activities that influence customers and reaps profit by satisfying customers.

marketing concept

The notion holds that a firm can attain its objective of profit maximisation, in the long run, by identifying and working on the needs of the current and prospective buyers. The central idea of marketing concept is to fulfil the needs of the customer, by means of the product. Hence, all the decision was taken by the firm keeping in mind the satisfaction of consumers.

Definition of Selling Concept

The selling concept holds that if businesses and consumers are left isolated, then the consumers are not going to buy ample products manufactured by the company. The concept can be applied belligerently, in the case of goods are not sought, i.e. the goods which the customer dont think of purchasing and also when the firm is operating at more than 100% capacity, the firm aims at selling what they produce, but not what the market demands.

selling concept

Hence, the consumer wants are induced to buy the products, through aggressive selling and promotional techniques such as advertising, personal selling and sales promotion.The essence of sellingconcept is to sell what the company produces, by convincing, coaxing, luring or persuading buyers, rather than what is desired by the customer. The concept focuses at generating profit by maximising sales.

Key Differences Between Marketing and Selling Concept

The difference between marketing and selling concept are elaborated in the points given below:

  1. A business notion, which states that if consumers and businesses remain unattended, then there will not be ample sale of organisations product, is the selling concept. A business orientation which talks about accomplishing organisational goals by becoming better than others in providing customer satisfaction is the marketing concept.
  2. The marketing concept is related to the directing goods and services towards the mind of consumers. On the contrary, the selling concept is concerned with compelling consumers mind towards goods and services.
  3. The initial point of marketing concept is the target market, i.e. first of all the research of the entire market is conducted. As against this, the factory is the starting point of the selling concept.
  4. The main focus of marketing concept is on the customer needs, but the selling concept puts greater thrust on the existing product.
  5. The marketing concept has an outside-in perspective while selling concept has an inside-out perspective.
  6. Satisfaction of consumers is the essence of the marketing concept. Conversely, the selling concept relies on the transfer of title and possession of the product from one person to another.
  7. There is a long-term business planning in the marketing concept; that concentrates on brand loyalty and high switching cost. In contrast, the selling concept has a short-term business planning, i.e. taking a good position and share in the market but only for a short period.
  8. The marketing concept is oriented towards profit maximisation, whereas in selling the concept, sales maximisation, is the ultimate objective.
  9. The efforts involved in selling concept includes promotion and persuasion, but integrated marketing efforts are used by marketing concept, which encompasses various strategies related to the marketing mix i.e. product, price, place (physical distribution) and promotion.
  10. In the marketing concept, the price is determined on the basis of various forces present in the market, i.e. demand and supply of the commodity. Unlike selling the concept, where the cost of production forms the basis of determining the price of the product or service.

Conclusion

It is true, that marketing concept is relatively wider term than selling concept. This is because selling concept itself is a part of themarketing concept, that is related to promotion and transfer of ownership and possession of the commodity from one person to another. On the other hand, marketing concept incorporates a number of activities like identifying the needs of customers, designing and developing the product as per their wants, fixing prices, persuading the buyers to buy the same.

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