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etplace has not only created new possibilities but also challenge of new petition. ? Examples Why is marketing planning necessary? ? Systematic futuristic thinking by management ? better coordination of a pany’s efforts ? development of performance standards for control ? sharpening of objectives and policies ? better prepare for sudden developments MARKETING MANAGEMENT PHILOSOPHIES ? five different orientation of firms towards the marketplace: ? The PRODUCTION CONCEPT holds that consumers will prefer products that are widely available and inexpensive. MARKETING MANAGEMENT PHILOSOPHIES ? The PRODUCT CONCEPT holds that consumers will favor those products that offer the most quality, performance, or innovative features. MARKETING MANAGEMENT PHILOSOPHIES ? The SELLING CONCEPT holds that consumers and businesses, will ordinarily not buy enough of the anization’s products. The anization must therefore, undertake an aggressive selling and promotion effort. MARKETING MANAGEMENT PHILOSOPHIES ? The MARKETING CONCEPT holds that the key to achieving its anizational goals consists of the pany being more effective than petitors in creating, delivering, and municating customer value to its chosen target markets. MARKETING MANAGEMENT PHILOSOPHIES ? The SOCIETAL MARKETING involves the marketer paying attention not only to the needs of customers but also to the wider natural and social environment. Marketers’ concern for the natural environment involves taking into account the environmental impact of production and distribution. PRODUCTION PRODUCT SALES MARKETING SOCIETAL References ? Principles of Marketing, 7th ed. by Philip Kotler and Gary Armstrong ? Marketing Management, An Asian Perspective 3rd ed. by Philip Kotler et al.