Which of the following statements related to marketing philosophies are correct?
A. Starting point of product concept is 'Market'.
B. Main focus of selling concept is 'existing product'.
C. Ends of product concept is 'profit through product quality'.
D. Starting point of selling concept is 'factory'.
E. Ends of product concept is 'profit through customer satisfaction'.
Choose the correct answer from the options given below.
Answer & explanation
Correct answer: option 1
The correct answer is option (1)- B, C and D only.
A. Starting point of product concept is 'Market'. This is not true as starting point of product concept is factory.
B. Main focus of selling concept is 'existing product'. This is true.
C. Ends of product concept is 'profit through product quality'. This is true.
D. Starting point of selling concept is 'factory'. This is true.
E. Ends of product concept is 'profit through customer satisfaction'. This is not true as End of product concept is 'profit through product quality.
Differences in the Marketing Management Philosophies
| Philosophies | Production | Product | Selling | Marketing | Societal |
| Starting Point | Factory | Factory | Factory | Market | Market, Society |
| Main Focus | Quantity of product | Quality, performance, features of product | Existing product | Customer needs | Customer needs and society’s product well being |
| Means | Availability and affordability of product | Product improvements | Selling and promoting | Integrated marketing | Integrated marketing |
| Ends | Profit through volume of production | Profit through product quality | Profit through sales volume | Profit through customer satisfaction | Profit through customer satisfaction and social welfare |