Now tell me which marketing student haven\u2019t learned about this phrase: \u201cBuild a better mouse trap and customers will beat a path to you.\u201d<\/p>\n
And you know what? It doesn\u2019t work that way in real life and many marketing people will tell you that. Unfortunately those who didn\u2019t study marketing or blur about the marketing concept will continue to make the same blunder. They made a better product; but no customer beat a path to them unfortunately.<\/p>\n
There are four basic fundamental marketing concept:
\nProduction concept
\nProduct concept
\nSelling concept
\nMarketing concept<\/p>\n
The production concept is where you try to make the product at the lowest possible cost and selling it at the cheapest possible price. Sort of a demand and supply kind of situation and of course will work for commodity items or where there is a ready market for your product and price is a factor in determining your sales.<\/p>\n
The product concept is where you try to make the best product ever beating your rivals in terms of features, bells and whistle. Things like it is the smallest item made, the largest item made, the lightest, or the best of whatever, and people look towards this kind of intriguing little things, and yes it will do well.<\/p>\n
The selling concept is where you get your sales people to push the product. Sell, sell, sell! Don\u2019t care whether the people like them or not, just brow beat the prospects into submission and win the sales.<\/p>\n
And finally of course the best of the best, is the marketing concept, where you listen to what the customer wants and make a product accordingly.<\/p>\n