Marketing Concept and Philosophy - Research Article from Encyclopedia of Management

This encyclopedia article consists of approximately 8 pages of information about Marketing Concept and Philosophy.
This section contains 2,338 words
(approx. 8 pages at 300 words per page)
Buy the Marketing Concept and Philosophy Encyclopedia Article

Evolution of the Marketingconcept and Philosophy

Product Philosophy.

The product philosophy was the dominant marketing philosophy prior to the Industrial Revolution and continued to the 1920s. The product philosophy holds that the organization knows its product better than anyone or any organization. The company knows what will work in designing and producing the product and what will not work. For example, the company may decide to emphasize the low cost or high quality of their products. This confidence in their ability is not a radical concept, but the confidence leads to the consumer being overlooked. Since the organization has the great knowledge and skill in making the product, the organization also assumes it knows what is best for the consumer.

This philosophy of only relying on the organization's skill and desires for the product did not lead to poor sales. In much of the product philosophy...

(read more)

This section contains 2,338 words
(approx. 8 pages at 300 words per page)
Buy the Marketing Concept and Philosophy Encyclopedia Article
Copyrights
Encyclopedia of Management
Marketing Concept and Philosophy from Encyclopedia of Management. ©2005-2006 Thomson Gale, a part of the Thomson Corporation. All rights reserved.
Follow Us on Facebook