What is the difference between the five concepts of "production, product, selling, marketing, and societal marketing" concept?
Production concept: the idea that consumers will favor products that are available and highly affordable, therefore, the organization should focus on improving production and distribution efficiency.
Product concept: the idea that consumers will favor products that offer the most quality, performance and features; therefore, the organization should devote its energy to making continuous product improvements.
Selling concept: the idea that consumers will not buy enough of the firm's products unless the firm undertakes a large-scale selling and promotion effort
Marketing concept: a philosophy in which achieving organizational goals depends on knowing the needs and wants of target markets and delivering the desired satisfactions better than competitors do.
Societal Marketing Concept: a company's marketing decisions should consider consumer's wants , the company's requirements, consumer's long term interests, and society's long term interests