Chapter 92:

Marketing in practice - 

Companies must always move forward, innovating products and services, staying in touch with customer needs, and seeking new advantages rather than relying on past strengths. Moving forward especially means incorporating the internet and digital efforts into marketing plans. Marketers must balance increased spending on search advertising, social media etc., with appropriate spending on traditional marketing communications.

 Company orientation toward the marketplace The evolution of marketing philosophies:

1. Production concept

Consumers prefer products that are widely available and inexpensive.

2. Product concept

Consumers favor products offering the most quality, performance, or innovative features.

3. Selling concept

Consumers and businesses, if left alone, won't buy enough of the organization's products.

4. Holistic marketing