Marketing Management Philosophy- Meaning and Definition

Marketing caters to customers' needs and wants for profit. There is always a residual logic behind every action. This logic is called philosophy of action.

All marketing efforts are guided by a specific strategy, logic or philosophy that provides guidance for conducting business or marketing activities is called marketing management philosophy .

Marketing management philosophy is a core idea or concept for managing marketing practices that has been advocated by scholars.

Although there are many marketing management philosophies, we have found the following five to be the most popular.

1. Production concept/philosophy
2. Product concept/vision
3. Sales concept/philosophy
4. Marketing concept/philosophy
5. Concept/philosophy of social marketing

Every organization can be expected to undertake commercialization activities of any of the ideas or philosophies mentioned above. When an organization works to pursue a specific marketing philosophy, that philosophy becomes the marketing management philosophy.