5 Marketing Philosophies Defined (Smart Monday/Process)
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5 Marketing Philosophies Defined (Smart Monday/Process)

Hello there, I’m Jim Glover, That Branding
Guy, for Once a Day Marketing. Today is Smart Monday. We’ve got a great show and I want
to thank you for tuning in and I hope that you are improving your business by marketing
every day. That’s our goal here and I’m sure that if you are marketing every day you
are seeing the results. Today we are going to revisit marketing guru
Philip Kotler’s work on five different philosophies for introducing your product into the market
place. Sometimes there is a product looking for a market and sometime there is a market
looking for a product and you have to decide which direction works best for you. The first is the production concept. That
is where you are trying to create a low price product that is readily available everywhere. The second is the product concept and that
is where you are creating a high end product that has lots of features and lots of benefits
for the consumer. The third is the selling concept. That’s
where you kind of believe that people on their own won’t seek the product out so you really
drive sales by heavy marketing and promotion. The next is the marketing concept. This is
used a lot, especially today, where you are looking for products that fill the needs of
customers. Last is the societal concept. That is similar
to the marketing concept but you are also taking into consideration the individual,
people in general and the environment to create a product where everybody wins. When you think about the selling approach
that is kind of being replaced today by social media inbound marketing. Rather than the heavy,
heavy aggressive marketing it’s more subtle, people find it and follow you back to your
product. So it’s up to you what is going to work
best. Sustainability is a big thing. Being green is a big thing, there is a lot of trend
there. But customers don’t always buy green if it’s a lot more expensive. So, again,
you have to take into consideration which one of these five strategies is going to work
best for you. Thanks so much for watching, be sure to tune
in tomrrow for Strategic Tuesday. If you need branding support, please contact me to discuss
an online or face to face service engagement. You can find that information at the end of
this video. I am Jim Glover, That Branding Guy, for Once a Day Marketing and we will
see you next time.

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