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

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Check out here Which of the top 5 concepts must learn while pursuing Distance learning MBA in marketing. 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. – PowerPoint PPT presentation

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


1
Top 5 Concepts Every Marketing Manager Should
Learn while pursuing MBA in Marketing
  • http//www.mitsde.com

2
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

3
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.

4
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.

5
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.

6
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.

7
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.
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