1. Different Era’s 1900 to present day
Marketing Management
Different Era’s 1900 to present day

2. Marketing Management Philosophies
The Marketing Management Philosophies
Marketing management can be described as carrying out the tasks that achieve desired exchanges, between the corporation, and its customers.
There are a number a different philosophies that guide a marketing effort.

3. Marketing Management Philosophies
Production Concept - Demand for a product is greater than supply.
To increase profit, focus on production efficiencies knowing all output can be sold. Also useful concept when increasing production raises economies of scale etc. to reduce price. Henry Ford, "Doesn't matter what color car you want, as long as it is black."...A typical quote during the production era.
Dominant era: From mid C19th to early C20th, industrial revolution etc.

4. Marketing Management Philosophies
Selling Concept - Demand for a product is equal to supply.
Emphasis is needed to sell the product to increase profits. Focus on advertising.
Useful for unsought goods, i.e., encyclopedias, funeral plots. Political candidates, selling important, not post consumer satisfaction.
Dominant era: 1920's to Mid 1930's WWII to early 1950's

5. Marketing Management Philosophies
Marketing Concept - Supply for a product is greater than demand, creating intense competition among suppliers.
Company first determines what the consumer wants, then produces what the consumer wants, then sells the consumer what it wants.
Dominant era: 1930's to WWII 1950's to present.
LL Bean 1912, founded on the marketing concept, in his first circular:
"I do not consider a sale complete until goods are worn out and the customer still satisfied. We will thank anyone to return goods that are not perfectly satisfactory...Above all things we wish to avoid having a dissatisfied customer."

6. Marketing Management Philosophies
Societal Marketing Concept: Focus on other stakeholders, as well as the business and its customers. Need to balance 3 items
Company profits
Customer wants
Society's interests

7. Marketing Management Philosophies
The difference between short term consumer wants and long term consumer welfare.
An example of a company adopting the Societal concept:
Starkist...Dolphin Safe Tuna Actually more expensive than regular tuna, but is more appealing due to society's concerns.
An example of the societal marketing concept....Visit the Body Shop and pick up some of their leaflets. click on values and campaigns