What is Marketing?

Marketing-DSThere exist today a wide variety of concepts of marketing and its nature.

Defining the very definitions of marketing in hospitality; have also undergone considerable development in the second half of the 2nd century. Today we encounter several basic concepts of marketing and its nature. Even though there are several studies in marketing as well as it’s development; there are five main marketing concepts which remain as basic of them all; namely :

“The production approach  – being a managerial orientation assuming that customers would prefer products which are both accessible and affordable.  The main managerial function would then be the improvement of production efficiency and of the distribution system.

The product approach – being a managerial orientation assuming that customers would prefer products of the highest quality for a given price.  The firm should accordingly devote its main resources to improvement of product quality…

The sales approach – being a managerial orientation assuming that customers would (or would not) acquire the firm’s products, in proportion to the efforts made by the firm to generate an interest in the product.  The firm should accordingly locate potential   customers and try to convince them, sometimes aggressively, that its products are something they cannot do without…

The   marketing approach  – being a managerial   orientation maintaining that the key to the attainment of the firm’s objectives consists in the determination of the needs and aspirations   of the target market, and in tailoring   the organization so as to cater to consumers desires in a better and more efficient manner than competing firms. •

The marketing-social approach – being a managerial orientation which calls for focusing upon the diagnosis of the needs of the target market and their fulfillment; in parallel, public welfare should be upheld in the long term.”

I will post each approach in different sections 🙂

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