What is the purpose and what are the benefits of the marketing philosophy? How does it differ from past traditional philosophies? Give company examples (with appropriate referencing) to illustrate....

Marketing Philosophies
Marketing defined in words of professor Kotler is the art and science and of exploring, creating and delivering value to satisfy the needs of a target market for a profit. The guidelines, principles or concepts used by businessmen in order to satisfy the business requirements are known as marketing concepts. These concepts are the philosophies that a business identifies to fulfil the needs, demands and requirements of their target customers in a way that benefits both the business and the customers. Since business differs from each other and so does their target market, same philosophies cannot be applied in all businesses and areas. The factors that affect the marketing philosophies, or the drivers of these philosophies are: Costs, Quality, Requirement fulfilment, Profits, Sustainability etc. The philosophies of Marketing include: Production Concept - This theory/concept is of the principle that consumers want inexpensive products and it should be available at every place. Hence companies manufacture the products in large scale and try to make it available widely. The second concept is: Product Concept: This concept says that the consumers prefer the products which are of better ‘Quality’ and the ‘Price’ and ‘availability’ of products do not play a major role. This is the reason that company works to perfect its manufacturing and deliver best quality products to its consumers. The third concept is: Selling Concept: The earlier two concepts focus on production while the third concept focusses on selling. This concept is of the view that every possible sale should be done in order to sell the product. The companies following this concept may even try to give fake promises and deceive the audience or in order to achieve the target of selling. The fourth concept is: Marketing Concept: Since selling concept is a very short sighted to succeed in this modern 21st century, Marketing has to be applied in a strong and well planned way. This theory/concept follows the principle that consumers prefer to buy what fulfils their demand. Businesses that follow this concept plan for the future and develop their products which fulfil the customer needs and demands. But many companies follow the other companies and do make profit and hence marketing concept cannot be termed as the most important concept. The last concept is known as: Societal Marketing Concept: In addition to the concept defined previously i.e. marketing concept, this concept takes into account the benefit of the society too. Businesses feel the need to be environment friendly along with fulfilling the consumer’s needs. The concept believes that business and its envireonment is a core part of the existing society, hence should be an active participant to reduce/eliminate poverty, illiteracy, controlling pollution etc. A new addition to the five principles is the Holistic Marketing Concept: This concept considers business and all its parts as one entity and gives a shared purpose to every activity and person related to that business.
The traditional marketing philosophies are the one’s which are most popular and visible everywhere. Traditional marketing concepts include: Broadcast marketing, Print marketing, Telephone marketing and Direct mail marketing. Print media is one of the oldest and well-structured form of marketing and has been one of the major sources of sharing information. In earlier times posters...