ASSIGNMENT HELP | There are 5 Marketing Concepts that you should take into consideration when developing Marketing Strategies.

There are 5 Marketing Concepts that you should take into consideration when developing Marketing Strategies.
Production Concept,
Product Concept,
Selling Concept,
Marketing Concept,
Societal Marketing Concept
In this assignment, you will pick out a company that you choose to do some research on. The 5 Marketing Concepts is what you are looking for in that company. An example is Nike, “The early Nike marketing strategy succeeded by selling benefits, not products. … His only goal was to promote a sport and an idea that he believed in.” https://coschedule.com/blog/nike-marketing-strategy/

To complete this assignment answer the 5 concepts of your company of choice.

Model Answer

A marketing concept plays a significant role in the marketability of a product. It involves exploring consumers’ needs and then coming up with products and services that meet those needs. This task explores the marketing concept adapted by Starbucks, an American multinational Company with a chain of coffeehouses and roastery reserves. The Company prides in being the world’s biggest coffeehouse chain.

Production Concept

The main idea behind the production concept is that consumers are likely to prefer products or services that are widely available and affordable. The assumption, therefore, is that the only aspect that consumers are likely to consider when making product purchases is the cost and availability. The concept was based on the Says law, which contends that supply will likely create its demand. Starbuck’s production concept is, to a large extend, opposite to what production concept states. The company’s coffee is comparatively expensive in the coffee industry. However, consumers feel they are paying for the coffee’s value as the coffee quality drives consumer loyalty (Richey & Ponte, 2020). Secondly, the company’s coffee houses are…