Details.

The Production Concept:

This is the oldest concept of business. It holds that consumers will prefer products that are widely available & inexpensive. Managers concentrate on achieving high production efficiency, low cost & mass distribution. This orientation makes sense in developing countries like China.

The Product Concept:

This concept proposes that the consumers favor products that offer the most quality, performance & innovative feature. Managers focus on making superior products & improving them over time.

The Selling Concept:

The selling concept holds that the consumers & businesses won’t buy enough of the organizations products. The organization must undertake an aggressive selling & promotion effort. It is practices most aggressively with unsought goods, goods that buyers normally do not think of buying, such as insurance, encyclopedias & cemetery plots. Most firms also practice the selling concept when they have overcapacity.

Read more in Marketing and Advertising
« Demand States of Market
Key Customer Markets »

The Marketing Concept:

The marketing concept emerged in the mid 1950s. Instead of product centered, make & sell philosophy, business shifted to a customer centered, sense & respond philosophy. The marketing concept holds that the key to achieving organizational goals is being more effective than competitors in creating, delivering & communicating superior customer value to your chosen target markets.

Selling focuses on the need of the seller; marketing on the needs of the buyer.

Selling is preoccupied with the sellers need to convert his product into cash; marketing with the ides to satisfying the needs of the customer by means of the product & the whole  cluster of things associated with creating, delivering & finally consuming it.

The Holistic Concept:

The holistic marketing concept is based on the development, design & implementation of marketing programs, processes & activities that recognizes their breadth & interdependencies. Holistic Marketing recognizes that everything matters in marketing. Holistic marketing is a combination of relationship marketing, integrated marketing, internal marketing, & performance marketing.

Relationship Marketing

Relationship Marketing aims to build mutually satisfying long-term relationships with key constituents in order to earn & retain their business. Four key constituents for relationship marketing are customers, employees, marketing partners (channels, suppliers, distributors, dealers, agencies), & members of financial community (shareholders, investors, analysts).