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Reflection essay on compare and contrast

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Allan-Goodwill Compare and contrast (using practical example) the following philosophies of marketing: (a) The productphilosophyversus the selling philosophy Product Philosophy Selling Philosophy -assumes consumers will buy product that has best quality or most features -assumes any product can sell by use of marketing techniques such as advertising and personal selling ( use of sales men) therefore there is product branding – therefore there is mass production assumes product uniqueness will sell units produced – need of pushing high sales volume at the shortest turn-around time possible – there is a breaking out price which will be adjusted as market dictates – therefore need to lower selling price – since no costs are spared In creating uniqueness, product can be expensive – also resulting In cheap quality products company then concentrates on extensively promoting product attributes company then concentrates on aggressively selling product -focuses on profit making not consumer satisfaction – focuses on profit making not consumer satisfaction usually product is unique that the consumer has little choice or no alternative – usually the consumer is bombarded with so much choice Though the product philosophy concentrates on product attribute selling and the selling philosophy concentrates on volume sales, however both concepts ” focus Is Internally directed towards the capabilities of the organization and not on the external market requirements of the customers’ needs, desires and wants,” Stardom teal (2011) their life line is their capability, which ever way they manipulate it. In the product philosophy an organization is capable of producing goods or services and in the ailing philosophy, an organization is capable of selling goods or services. These capabilities are their strengths hence they become so focused on them that they end up thinking they know what is best for the customer. The selling philosophy requires that there be aggressive selling of the product. There is the deployment of sales people to convince consumers why they should buy this product.

Sales promotions are made by tactfully reducing prices to lure customers, for example the ” buy 2 get 1 In a product-oriented market, a company can sell its own product by branding it then giving it attributes which will make it unique. Making a product unique requires that research and resources be spent on branding it, hence producing becomes expensive. Apple company has gone a step further in branding their products ‘pad, ‘pod, ‘phone, for example. That uniqueness has sold. In a selling-oriented market meeting demand of unattainable goods by providing imitations can sell. The Chinese have mass produced imitations of designer goods, and the market has received these very well. What about in anenvironmentwhere there is oversupply of cheap goods?

The turn around time is determined by volume of sales hence marketing has to be aggressive. How ever in both philosophies lots ofmoneyis spent on adverting trying to convince the customer to buy their product. Whereas in a product oriented market, the breaking out price can be expensive, in a selling oriented market the price has to be low so as to clinch a big share of the market Both concepts however do not address the needs of the consumer. ” Product orientation is Justified either where demand far exceeds supply of a product which justifies concentrating effort on increasing production or where cost of product is high, warranting the pursuit of productivity to secure lower price and an expanding arrest…

Toddle (1993) Marketing Philosophy Relationship Marketing Philosophy – assumes people have needs therefore will produce to satisfy those needs – assumes that satisfying consumer needs is not enough, therefore will go a step further by building relationships with the customer -focuses on identifying customer needs and wants before and during manufacturing a product – focuses on creating and maintaining long standing relationship with customer -during marketing, the company gets feedback from the customers about their product – during the relationship cycle, the firm will get to know the needs and wants of the customer – customer needs are incorporated into product design or upgrade – customer service is personalized or tailor made to suit customer -customer gets satisfaction from -customer gets service satisfaction through the relationship -concentrates on producing to satisfying the customer -concentrates on winning or maintaining customerloyalty-maintains customer loyalty through product upgrading -maintains customer loyalty through trust andcommunicationFocuses on satisfying consumer needs to make a profit Focuses on maintaining business relationships to make a profit Both philosophies are customer orientated but use different approaches.

Berry (1994) defined relationship marketing as ” attracting, maintaining and in multi-service organizations, as enhancing customer relationships” A loyal customer gets rewarded. As compared to a once off customer, the longstanding customer gets the best service and first preference. Goods or services get to be personalized or tailor made for this customer. Through this longstanding relationship the company gets to know what the customer needs. Customer’s satisfaction is the key to organization’s success. If customer needs and wants are incorporated into producing a service or good then sales and profits are likely to be met This kind of philosophy is found mostly in companies that provide services, for example banks, hotels, in tourism and travel.

However in both these philosophies, customers’ needs and wants can easily be overlooked as the company enjoys profits. The company slackens and takes customers for granted restraining them instead of retaining them. References: Berry, L. L. (1994). Relationship Marketing: Journal of Relationship Marketing. American Marketing Association’s Services Marketing Kettle, P (1967). Marketing Management: analysis, planning, and control. Prentice Hall Astronomy. W. , Du Plisses, P. J. , Joist, C. J. (2011). Marketing Management. Just Toddle, R. S. (1993). The Rise And Fall of Mass Marketing. Rutledge. CONNECT ZANZIBAR : WHY WE ARE MAKING MONEY http www. Misremembered. Co. UK/2012/06/connect-Zanzibar-why-we-are- ma king- money. HTML

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