Difference Between Old Concept And New Concept Of Marketing
The major dissimilarities or difference old and new concept of marketing can be highlighted as follows:
1. Introduction
Old Concept: Marketing is an economic process that includes buying and selling of products in order to earn profit.
New Concept: Marketing is a process which includes identification of consumers needs, producing goods according to their needs and satisfying their needs.
2. Scope
Old Concept: It has limited scope because it is related to production and distribution of goods only.
New Concept: It has wider scope that old concept of marketing because it is related not only to production and distribution but also related to need identification and consumer satisfaction also.
3. Objective/Purpose
Old Concept: The main objective is to maximize profit by selling more products.
New Concept: The main objective is to satisfy the customers
4. Type Of Process
Old Concept: It is a product-oriented process
New Concept: It is a customer-oriented process
5. Focus On
Old Concept: It gives focus on mass production and large volume sales
New Concept: It gives focus on consumer satisfaction and social welfare
6. Start/End
Old Concept: Marketing process starts after production and ends after the sale
New Concept: Marketing process starts before production (identification of needs, wants, tastes of consumers) and ends after the satisfaction of consumers.
7. Marketing Information System
Old Concept: It does not use marketing information system
New Concept: Marketing system plays an important role in new concept of marketing.
8. Social Responsibilities
Old Concept: It ignores social responsibilities
New Concept: It gives emphasis on social responsibilities
Old Concept Vs New Concept Of Marketing (Comparison Chart)
I hope this post is helpful to understand the difference between old concept and new concept of marketing and to make comparison between them.
Old Concept Vs New Concept Of Marketing (Comparison Chart)
Basis
|
Old Concept
|
New Concept
|
Introduction
|
Process of buying ans selling of products to earn profit
|
Identifying consumers' need, producing products and satisfying the needs
|
Scope
|
Limited
|
Wider
|
Objective/Purpose
|
Profit Maximization
|
Customer Satisfaction
|
Orientation
|
Product-oriented
|
Customer-oriented
|
Focus On
|
Mass production and large volume sales
|
Consumer satisfaction and social welfare
|
Start/End
|
Starts after production and ends after sales
|
Starts before production and ends after customer satisfaction
|
Role Of Marketing Information System
|
No
|
Yes
|
Social Responsibility
|
No
|
I hope this post is helpful to understand the difference between old concept and new concept of marketing and to make comparison between them.
