The 5 Fundamentals of Marketing

The 5 Fundamentals of Marketing

Marketing is a carefully curated practice, and has evolved exponentially in the Internet age. There are a few basics that comprise an excellent marketing model. They all combine to increase sales, revenue, and relevancy for both the business and the marketing firm representing them. Knowing them, and even more importantly, knowing how to use them, are helpful.

The building blocks of an effective marketing strategy can bring enormous success, if you know how to use them to their fullest extent. Here are those concepts that any successful marketing campaign will need to succeed.

1. Production Concept

The production concept is an old marketing tactic. Essentially, the production concept lays out the importance of the affordability and availability of a product, and marketing it as such. This concept is fundamental in the production and distribution strategy of a particular product.

This is step one of marketing strategy, but perhaps not the most important step. Production is just one part of the whole.

2. Product Concept

The product concept focuses further on the importance of a product’s relationship to its users, and how to innovate that product for more widespread use. This aspect keeps in mind that customers want the absolute best from their products, and are bound to find it elsewhere. This is really an exercise in innovation, and knowing exactly what a business’ customer base wants. It’s always best to stay ahead of the competition.

3. Selling Concept

The selling concept is one of the trickiest to pull off. This technique identifies what a customer wants for a short-term sale, thus focuses on selling one product as many times as possible to a variety of customers, but without the expectation that a customer will return. This promises quick profits. Usually, this tactic is used for “unsought goods” or goods that a customer may not have thought about buying before, and will most likely need or use one time.

4. Marketing Concept

The marketing concept of a marketing strategy is perhaps the most important as it looks at the big picture of customer satisfaction and long-term goals of a campaign. Marketers have to identify their competition in order to create the most effective strategy to outsell them and to continue to do so. This concept focuses on the importance of customer satisfaction to strategize best long-term practices.

5. Societal Marketing Concept

The societal marketing concept explores the value of customer satisfaction in relation to society as a whole. In the most basic sense, the societal marketing concept aims to connect the wants and needs of the customers to their society, making sure the marketing practice isn’t just good for the business’ success, but especially for potential, continuing, and new customers to enjoy. This more philosophical concept helps bring the business out of it, and more empathy in.

What We’ve Learned

The 5 marketing concepts are just the bare bones of a marketing strategy, but they continue to work together to create something successful.

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Matt Ramage is founder of Emarketed a web marketing agency located in Los Angeles. He loves coffee, good design, and helping businesses improve their look and getting found on the Internet.