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Evaluation of Market Segment - Term Paper Example

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In this paper, the author describes how the leading toy and games maker Hexin review its marketing plan and increase its sales its gross profit margin. Also, the author discusses five philosophies of marketing such as production concept, selling the concept, product concept, and others…
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Evaluation of Market Segment
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Download file to see previous pages The production concept holds that consumers will prefer products that are widely available and inexpensive. The production concept prevailed from the time of the industrial revolution until the early 1920's. The production concept was the idea, that a firm should focus on those products that it could produce most efficiently and that the creation of a supply of low-cost products would in and of itself create the demand for the products. Product & service satisfy customer’s needs & wants. This emphasis on production & operations dominated until the great depression in the early 1930’s.
Selling concept: The selling concept holds that consumers and businesses if left alone, will normally not buy enough of the company’s products unless they are approached and proposed with a substantial selling and promotion effort. Demand for a product is equal to supply. Emphasis is needed to sell the product to increase profits. This matter mainly Focus on personal selling &advertising. Political candidates, selling important, not post-consumer satisfaction. Selling concept go through in this cycle, that is product to selling & promotion to profit through sales volume. Selling concept was characterized by a heavy reliance on promotional activity to sell the products, the firm wanted to make. The selling stage, unfortunately overly aggressive selling the “the hard sell”--- & unscrupulous tactics was also involved at a stage.
Product concept: The product concept holds that consumers will favor those products that offer the most quality, performance, or innovative features. Product also included persons, places, organization &ideas. As an example; IBM PC they offer faster system, touchstone screen, ms-dos operating system, first 3.5-inch floppy drive, 30%wholesale 40% margin, Hewlett- Packard discovers. This concept very the importance of product & the consumers needs & wants.
Marketing Concept: The marketing concept is a simple but very important idea. ...Download file to see next pagesRead More
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