Top 5 concepts every marketing manager should learn while pursuing Distance mba in marketing

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Top 5 Concepts Every Marketing Manager Should
Learn while pursuing MBA in Marketing

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Top 5 Concepts Every Marketing Manager Should
Learn while pursuing MBA in Marketing

• Marketing is a core ingredient of every
  organisation. Its an umbrella term that includes
  a whole range of activities targeted towards
  organising a marriage between consumers and their
  desired products
• Strategic marketing management is a science and
  an art.
• The way marketing managers make logical
  predictions on consumer choices and preferences
  or draws conclusions based on survey sheets or
  past consumer purchase data makes it a science.
• The art is hidden in the way marketers conduct
  the speculation exercise and eye for the right
  consumers for their products.
• While pursuing distance learning MBA/PGDBA in
  marketing management, managers must study the
  following five concepts to get more clarity on
  their study as well as their assignments

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1. Production Concept

• Most of the consumers have a bent on cheaper
  goods. According to the production concept, when
  companies want to penetrate the market, they need
  to increase their distribution channel.
• This means they have to incur higher expenses in
  distribution. Now, since they are eyeing for more
  customers, they are also increasing their
  production capacity.
• When more production is happening, cost per unit
  automatically decreases
• In this way, companies save on production cost
  and can spend this amount on their distribution.
• This workable concept however holds true only
  when demand for a particular commodity exceeds
  its supply.
• However, if consumers develop a trend of bending
  over quality and not the price this shall never
  work.

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2. Product Concept

• In this case, organisations develop a greater
  emphasis and focus on the quality of the product.
• Such a concept is applicable for that group of
  consumers who consider product quality as a
  significant parameter for choosing their
  commodities.
• Therefore, to reach out to such targets,
  marketers ask the production team to improve the
  quality of product along with an attractive
  packaging.
• They also place the project with a superior image
  in the minds of its targets so that the latter
  fall for it and end up purchasing their desired
  commodity.

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3. Selling Concept

• The real fun of pursuing Correspondence MBA/PGDBA
  in marketing management is when professionals
  come across this interesting marketing concept.
• Selling concept is based on the fact that
  products are not purchased but are sold.
• In other words, marketers somehow compel the
  consumers to purchase a product.
• Its either through attractive advertising or
  attention-gripping campaigns or other selling
  tactics through which marketers captivates
  consumers within their products and finally sells
  the commodity.

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4. Marketing Concept

• The aim of marketing is never to market one
  product to a single customer for one time only.
• In fact, the word one should be replaced by
  many.
• To achieve this, companies rely on the marketing
  concept. Accordingly, they focus on customer
  satisfaction.
• Hence, such organisations always identify their
  targets first and then make a product that can be
  sold to them.
• It never happens the other way round. Therefore,
  marketers make lot of effort in boosting
  marketing activities only to ensure higher mind
  share amongst the customers.

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5. Societal Marketing Concept

• Now comes a more ethical concept on marketing.
  Here, companies stress on social welfare and
  benefit along with customer satisfaction.
• Therefore, the kind of products manufactured here
  always adheres to societal standards.
• It also has a strategic advantage, i.e. if a
  society accepts a product and it is for their
  welfare there will be higher chances of
  re-purchase.
• People will discuss about that specific product
  and will never let it go out of their minds.
• In this way, the marketers need not make much
  effort in promoting the products to the mass.
• Once-a-while show is more than enough for
  marketers to tap on such consumer groups.