Arrange the following marketing Management philosophies in a sequence based on their evolution over a period of time.

(A) Product Concept

(B) Production Concept

(C) Marketing Concept

(D) Selling Concept

Choose the correct answer from the options given below :

(B), (A), (D), (C), (E)

The correct answer is option (2) : (B), (A), (D), (C), (E)

(B) The production concept : During the earlier days of industrial revolution, It was believed that profits could be maximised by producing at large scale, thereby reducing the average cost of production. It was also assumed that consumers would favour those products which were widely available at an affordable price.

(A) The product concepts :  The position of supply increased over period of time. Mere availability and flow price of the product could not ensure increased sale and as such the survival and growth of the firm. Thus, with the
increase in the supply of the products, customers started looking for products which were superior in quality, performance and features.

(D) The selling concepts :  The increase in the scale of business further improved the position with respect to supply of goods, resulting in increased competition among sellers . The product quality and availability did not ensure the survival and growth of firms because of the large number of sellers selling quality products. This led to greater importance to attracting and persuading customers to buy the product.

(C) The marketing concept : Marketing orientation implies that focus on satisfaction of customer's needs is the key to the success of any organisation in the market. It assumes that in the long run an organisation can achieve its objective of maximisation of profit by identifying the needs of its present and prospective buyers and satisfying them in an effective way.

(E) The societal marketing concept : The societal marketing concept holds that the task of any organisation is to identify the needs and wants of the target market and deliver the desired satisfaction in an effective and efficient manner so that the longterm well-being of the consumers and the society is taken care of.