Five Marketing Management Philosophies (concepts)

PLACE and PRICE available and affordable, when convenience is important or high prices in market
PRODUCT quality and uniqueness, problem: market myopia- focus on existing product and new needs and wants
PROMO mass production and mass promo, problem: make product first, not look at needs and wants, pushy
4P’s, focus on needs and wants, marketing research, innovation, market segmentation. Customer centered
Societal Marketing
not just satisfy needs and wants, but in a way that maintain/enhances the welfare of society. Balancing giving customers what they want, keeping the best interests of society in mind, AND maintaining profits