Toward a Mature Marketing Concept

Toward a Mature Marketing Concept

The marketing concept has been attacked recently for being insufficiently geared to the long term. It is argued, however, that its troubles are not the result of some fundamental flaw in the concept itself, but rather of its myopic application. Four types of marketing opportunities that a firm is li...

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Bibliographic Details
Published in:MIT Sloan management review Vol. 28; no. 2; p. 45
Main Authors: Samli, A Coskun, Palda, Kristian, Barker, A Tansu
Format: Journal Article
Language:English
Published: Cambridge Massachusetts Institute of Technology, Cambridge, MA 01-01-1987
Subjects:
Changes
Corporate management
Market strategy
Marketing
Product development
Theory
Trends
Online Access:Get full text
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Summary:The marketing concept has been attacked recently for being insufficiently geared to the long term. It is argued, however, that its troubles are not the result of some fundamental flaw in the concept itself, but rather of its myopic application. Four types of marketing opportunities that a firm is likely to encounter are described: 1. a market for an existing product, 2. a potential market deduced from communication with potential buyers, 3. a product derived from basic research for which the market is unclear, and 4. basic research that does not yield specific commercial results. Situations 1 and 2 are more consumer-oriented and rarely result in innovation, whereas the other 2 situations require substantial investments. A more mature definition of the marketing concept should be developed that includes all 4 of the product development scenarios.
ISSN:1532-9194