Every company can have different ideas or philosophy. For example, a participating company can have it's idea or philosophy that if the production is done on a large scale,the cost would be less and the product would be solg automatically.
Marketing management has the following philosophy:
Production concept: Those companies who believes in this philosophy think that if the good/services are cheap and they can be made available at many places, there cannot be any problem regarding sale. Keeping in mind the same philosophy these comaoy put in all their marketing efforts in reducing the cost of production and strengthening their distribution system.
Product concept: Those companies who believe in this philosophy are of the option that if the quality of goods or services is of good standard, the customer can be easily attracted. On the basis of this philosophy or idea these companies direct their Marketing efforts to increasing the quality of thier product.
Selling concept: Those companies bwho believe in this philosophy think that living alone the customer will not help. Instead there is a need to attract the customer toward them. Keeping in view this concept these companies concentrate their marketing efforts towards educating and attracting the customers.
Marketing concept: Those companies who believe in this philosophy are of the opinion that success can be achieved only through customer satisfaction. Keeping in mind this philosophy these companies direct their marketing efforts toward customer satisfaction.
Societal marketing concept: This concept stresses not only the customer satisfaction but also gives importance to Consumer welfare/societal welfare like high level of human life and pollution free atmosphere. So the companies following this philosophy direct all their marketing efforts toward the achievement of consumer satisfaction and social welfare.