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decide
which
customers
they
want
to
target,
on
the
level,
timing
and
nature of their demand. Thus, marketing management is customer
management and demand management.
2. Deciding on a value proportion
The company’s value proportion is the set of benefits or values it promises
to deliver to consumers to satisfy their needs.
There are 5 competing
marketing orientations that
guide
marketing strategy as
follows:
1. The production concept is the idea that consumers will favor products that
are available and highly affordable
2. The
product
concept
is
the
idea
that
consumers
will
favor
products
that
offer the most quality, performance and innovative features
3. The selling concept
is
the
idea that consumers
will
not buy enough of
the
firm’s products unless it undertakes a large-scale selling and promotion
effort.
4. The
marketing
concept
is
the
idea
on
knowing
the
needs
and
wants
to
target market and delivery the desired satisfactions better than the
competitors do.
5. The societal
marketing concept
holds
that
marketing
strategy should
deliver value to customers in a way that maintains or improves both the
customer’s and society’s well-being
Marketer to construct a marketing program that will actually deliver the
intended
value
to
its
target
customers
uses
the
marketing
strategy
as
guide.
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