Four Major Marketing Concept and the Marketing Myopia (Essay Sample)

The Marketing Concept and its Relationship with Marketing Myopia
Student’s Name
Institutional Affiliation
The Marketing Concept and its Relationship with Marketing Myopia
The marketing concept refers to the way in which an organization mobilizes resources with the goal of creating, stimulating, and satisfying consumers at a profit (Keelson, 2012). It is a distinct aspect of business that considers marketing as being more than a physical process. It perceives marketing as the deliberate application of management practices to the selling and distribution functions of the firm to create and maintain profitable customers (Sharma, 2015). The marketing concept has evolved over the years and has been consistently redefined since the industrial revolution. The gradual change in the marketing philosophy can be classified into four phases and captions namely, production philosophy, product philosophy, customer or marketing philosophy, and societal marketing philosophy (Keelson, 2012).
The production philosophy prevailed between 1850 and 1900, which was a period of industrial mass production and heavy demand for manufactured goods. The dominant idea was that consumers preferred goods that were readily available and highly affordable (Keelson, 2012). Businesses focused on maximizing output and keeping the costs of production down, while ensuring efficient