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5 coolest marketing concepts in 2021

Some marketing concepts never get old, like these five concepts of marketing; production, product, selling, marketing, and societal marketing. In order to be successful, marketing concepts must be in line with consumer needs, wants, and demands.

Within the framework of these five classic marketing concepts, new ideas emerge. Just like the ever-changing needs of consumers, marketing concepts also evolve.

The Production Concept

The oldest marketing concept in the world, the production concept assumes that customers will buy products that are both affordable and widely available. This concept doesn’t take the choices or tastes of the consumer into consideration. Rather, there is an assumption that the products will be generally accepted and will sell easily.

Basic groceries such as milk, eggs, vegetables, and meat fall into this concept. There is an assumption by consumers that all eggs, milk, vegetables, and meat are essentially the same. Consumers rarely ask where these products come from, and often simply buy the cheapest ones offered.

The Product Concept

This marketing concept is very different from that of the production concept. Here, the product producer performs continuous research to find out how their customers feel about their product’s quality and design. The company is focused on its product’s performance and quality, and there is a constant striving to improve.

Consumer electronics, automobiles, and even beauty products fall into this category. New designs and formulas are constantly on the drawing board, and consumer surveys are always in the works. Every year there is something new and improved for consumers to try and benefit from.

The Selling Concept

The selling concept is not focused on products, but on selling. This marketing concept often applies to selling services, such as insurance policies.

The companies continuously engage in large-scale promotional campaigns, such as email campaigns, to convince people to buy the product or service. Learn more here about email marketing.

The selling concept is often applied to products and services that people generally don’t think about buying, like an extended warranty for their car. A key technique is to introduce consumers to the product’s benefits. Companies based on selling strive to gain consumer interest and build awareness of their need for the product or service.

The Marketing Concept

This customer-oriented concept begins by finding out what consumers need and want. This is done by approaching the problem with the problem-reaction-solution formula. The customer has a problem, and the company finds a way to solve it by providing a solution.

This concept can be applied to nearly anything, from fast food to fashion. Let’s take fast food for an example; a company could find out that moms are having a problem finding healthy fast food for the kids. The solution could be a healthy kids meal, with vegetables served in a way that children will like and eat.

Businesses will make a profit by building long-term relationships with their customers. A few outdoor clothing companies have built a cult-like following by solving the problems faced by their customers, such as a need for lightweight, comfortable, waterproof hiking boots. By effectively producing these, the company gains a customer for life.

Artificial intelligence, or AI, can be useful in this marketing concept. For example, AI and machine learning can track what individual consumers not only buy but what they look at. This information, in aggregate, can be used to create an overall consumer profile. This profile can then be used to uncover the general problems of consumers, and also be used to come up with the solution. To find out more about AI marketing, check out digitalauthority.me.

The Societal Marketing Concept

This is the most progressive marketing concept yet. The societal marketing concept focuses not just on the needs and desires of the customers and the company’s interests, but also society’s overall well-being and long-term interests. It’s the idea of making the world a better place with consumer products and services.

Societal marketing could very well be the dominant form of marketing today, judging by the number of ads based on ideas like climate change and social justice. Consumers may not consciously realize it, but these ads are not only selling products by using lofty ideals, but also selling the idea of societal change itself.

Societal marketing can be accomplished by simply alluding to progressive goals, such as social justice. This has been a very successful tactic used by companies like activist corporations like Nike. Or better yet, a company can put their money where their mouth is, by donating a portion of the sales to a worthy cause. Likewise, some companies donate products, such as shoes, to needy people around the world.